A survey finds that about half of respondent firms in the Third Federal Reserve District use generative artificial intelligence (AI) tools, yet its impact on labor demand among many of these firms remains limited.
Here’s what the Philadelphia Fed survey of businesses in Delaware, southern New Jersey, and eastern and central Pennsylvania found:
- Nearly 75 percent of the respondents use some form of AI, with about half using generative AI.
- About 70 percent of the firms using generative AI said it didn’t change their need for workers.
- Seventeen percent of the firms reported that generative AI changed the type of workers needed, not the number.
Read the full report here.