Nearly 4,000 people working in tech lost their jobs because of AI in May

The tech job market has been quite volatile for the last couple of months and ever since AI tools like ChatGPT, Bard and Bing have been launched, things have become even more challenging, a new report says.

OpenAI introduced ChatGPT in November 2022, and Google and Microsoft launched their own AI tools Bard and Bing in February this year.

The three AI tools have been the talk of the tech world ever since their inception and today, more and more companies are using AI to the best of their advantage. And in May, nearly 4,000 people lost their jobs to the emerging tech.

A Business Insider report originally attributed to a monthly report from Challenger, Gray, and Christmas revealed that in May this year, around 4,000 people lost their jobs to artificial intelligence.

The report added that in total, around 80,000 people were laid off of their jobs last month. From these, 3,900 job cuts were because of AI.

The reasons behind other job cuts could be economic conditions, cost cutting, restructuring at the company, or mergers and acquisitions.

The report also shared insights on total job cuts in 2023 till now. From January to May, around 4 lakh people lost their jobs.

A spokesperson also told Insider that this was the first time that job cuts were being attributed to AI. The spokesperson added that all the layoffs were from the tech sector.