AI Washing

Yes, fresh college graduates are having a hard time finding jobs. And yes, there have been layoffs that CEOs have attributed to AI, even if a large fraction of this was “AI washing,” where businesses choose to attribute layoffs to AI, even though AI has not changed their internal operations much yet. [...] many other factors, such as over-hiring during the pandemic and high interest rates, have contributed to the slowdown in the labor market, and the notion that AI is leading to unemployment is oversimplified.
-- Andrew Ng: The Batch - Issue 348