Work Shift
Nearly Half of Firms Using AI Say Goal Is to Cut Staffing Costs
The technology is more common in the manufacturing sector than in services.
Workers fearing that their employers could use artificial intelligence to replace them might be right, according to data in a Federal Reserve Bank of Richmond report.
In a survey conducted earlier this month of firms using AI since early 2022 in the Richmond region, 45% said they were automating tasks to reduce staffing and labor costs.