European Companies Embrace AI While Increasing Workforce Amid U.S. Job Market Uncertainty

If the drumbeat of Silicon Valley leaders warning that artificial intelligence will wipe out millions of jobs has you anxious about the future of work , the outlook in Europe might offer some solace. Recommended Video A new study from the European Central Bank released last week finds that fears about AI-driven job losses may be premature.

On average, companies integrating AI are slightly more likely to hire more workers than cut with—with AI-intensive firms about 4% more likely to grow headcounts, and companies investing in the technology roughly 2% more likely to hire than firms that aren’t investing at all.

While the margins are small, the findings suggest that companies adopting AI aren’t shedding workers to make room for the technology. Instead, many appear to be using it to boost productivity while expanding their workforce. “Investment in and the intensive use of AI are not yet replacing jobs,” the ECB economists wrote.