Adoption of artificial intelligence is soaring in New York City, but the great AI jobs apocalypse is nowhere in sight — except in entry-level tech positions, where demand has plummeted, closing off a key avenue to well-paying jobs for young workers.
A survey by the Federal Reserve Bank of New York released earlier this month showed 60% of service firms now use AI, up from 40% a year ago. Half of manufacturers surveyed are using the powerful and controversial tool, twice as many as a year ago.
But employment at tech companies in New York City, the key sector where AI is taking hold the fastest, remains stable, according to the nonprofit Center for an Urban Future.
New York has also recorded an increase of about 60,000 jobs over the last year, according to July data from the state Labor Department. That includes small gains in finance and professional services, two other fields quickly adopting AI.
‘Intense Competition’
But ads for entry-level tech jobs — a critical foot in the door for young New Yorkers, including some with two-year associates degrees — have plunged by half since 2022, according to a new analysis by the Center for an Urban Future…