Companies adopting artificial intelligence in the New York area of the US are not cutting significant jobs and are expected to net hiring in the coming months, according to a regional survey by the New York Federal Reserve. "These developments suggest that companies are planning net hiring as a result of their use of AI, rather than net layoffs," economists at the New York Fed wrote in a blog post. Overall, 25 per cent of service sector companies report using AI, a proportion set to rise to 32 per cent in the next six months. The proportion of manufacturers using AI is expected to remain at the current 16 per cent.