New Delhi, June 1 -- Fears that AI could trigger a wave of job losses may be overstated, according to Apollo Global Management chief economist Torsten Sløk. In a blog post on Friday, he said the current labour market data show little sign of AI-driven job destruction despite a growing number of companies citing the technology while announcing layoffs.

According to Business Insider, Sløk pointed to employment data from payroll processor ADP and argued that concerns about widespread AI-led unemployment are not yet reflected in the numbers. In the blog published on Apollo.com, he wrote: "There is zero evidence of job losses because of AI."

Rather than replacing workers, AI is currently creating new demand for specialised talent, ...