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Ai Impact On Jobs

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Jerome Powell Discusses AI's Impact on Youth Employment and Economic Trends

Originally Published 3 months ago — by Fortune

Federal Reserve Chair Jerome Powell highlighted the challenging job market for recent graduates, especially among Gen Z and minorities, amid low hiring and firing rates, with AI potentially influencing employment trends. The long-term effects of this employment slump could impact lifetime earnings and economic mobility for young people, raising concerns about persistent labor market scars.

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AI's Impact: Transforming Jobs, Business, and Society

Originally Published 7 months ago — by Business Insider

Recent data shows that AI is already replacing human roles, especially in tech-related jobs, leading to a decline in job postings for roles with high AI-exposure. Companies like Shopify and Duolingo are actively reducing their human workforce in favor of AI, although some firms like Klarna are reconsidering this approach due to concerns over work quality. The long-term impact remains uncertain, with some companies planning further workforce reductions as AI tools improve.

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