You’re much more likely to get retrained than fired due to AI, but layoffs will rise, N.Y. Fed says

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• More than a third of service companies using AI are retraining their workers, and nearly half plan to do so over the next six months, according to a survey from the New York Fed. Meanwhile, just 1% of firms had layoffs, but 13% expect them in the coming months. The share of service companies using AI that are hiring fewer workers is also seen climbing.

Companies using AI are rushing to retrain their workers for now, though the share that are planning for layoffs or to trim hiring is expected to rise in the coming months, according to a new survey from the New York Fed.