Story perspectives

AI Drives Productivity Gains, Slows Hiring for Big Firms

1/5/2026

44 8

Summary

Story summary

Neel Kashkari, president of the Minneapolis Federal Reserve, says artificial intelligence is causing large companies to slow hiring while delivering real productivity gains.
He notes many businesses have altered hiring plans because of AI, while smaller firms are less affected.
Since the ChatGPT launch in 2022, U.S. companies have invested billions in AI technology.
Despite safety and job-security concerns, businesses are starting to see returns as skeptical firms adopt AI.

1 of 1

Story summary

Neel Kashkari, president of the Minneapolis Federal Reserve, says artificial intelligence is causing large companies to slow hiring while delivering real productivity gains.
He notes many businesses have altered hiring plans because of AI, while smaller firms are less affected.
Since the ChatGPT launch in 2022, U.S. companies have invested billions in AI technology.
Despite safety and job-security concerns, businesses are starting to see returns as skeptical firms adopt AI.