The New York Federal Reserve survey shows that companies that adopt AI have not laid off a large number of employees, and the service industry is more vulnerable

Companies adopting artificial intelligence in the New York area of the US are not cutting significant jobs and are expected to net hiring in the coming months, according to a regional survey by the New York Federal Reserve. "These developments suggest that companies are planning net hiring as a result of their use of AI, rather than net layoffs," economists at the New York Fed wrote in a blog post. Overall, 25 per cent of service sector companies report using AI, a proportion set to rise to 32 per cent in the next six months. The proportion of manufacturers using AI is expected to remain at the current 16 per cent.