New York Fed Reports Rise in AI Adoption, Few Layoffs

2025-09-07 05:25:38

(MENAFN) The Federal Reserve Bank of New York has released new findings showing a notable rise in artificial intelligence (AI) adoption, though few companies have resorted to AI-driven layoffs.

The New York Fed conducted a study to assess AI's impact on employment, surveying businesses across New York and Northern New Jersey about their AI usage and workforce changes.

The results revealed a sharp increase in AI integration, with a minimal correlation to job cuts. In the service sector, AI adoption jumped to 40% this year, up from 25% in the previous year. Furthermore, 44% of service companies plan to implement AI within the next six months.

The manufacturing sector also experienced a rise, with AI usage climbing from 16% last year to 26% this year. About a third of manufacturing firms indicated plans to adopt AI in the coming half-year.

Despite the growing reliance on AI, the study showed that only a small number of businesses have linked it to workforce reductions.

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