TAMPA, Fla. — Recent college graduates are facing something never seen before — competition with artificial intelligence. 

The World Economic Forum said more than 40% of employers plan to reduce their workforce because of AI automation. 

What You Need To Know

Bureau of Labor Statistics said young workers are now experiencing unemployment rates that have increased by more than 40% since 2019

University of Tampa economics professor John Dorrell said students are competing with AI for entry-level jobs

Karli Ramey, UT senior, said she has applied to about 200 jobs and has had no luck

Fall graduations for the University of Tampa and the University of South Florida are this weekend 

Like many soon-to-be college graduates, Karli Ramey took job applications very seriously.

“There was a time period where I was probably doing like 10 a day, so I’m guessing probably close to 200,” said Karli Ramey, a senior at the University of Tampa.”

But Ramey has had no luck. She majored in finance with a minor in economics and is graduating from UT on Friday. 

“You go to school, you do the extracurriculars, you get good grades. I’ve been the president of a club here pretty much my whole time here, and while that used to matter, it doesn’t seem to matter at this point,” she said.

Ramey isn’t alone. The Bureau of Labor Statistics said young workers are now experiencing unemployment rates that have increased by more than 40% since 2019. UT economics professor John Dorrell said students are now competing with artificial intelligence for work.  

“The current affects that we’re seeing from AI is mainly that they’re not creating new positions — that’s happening more than actual firings or layoffs,” Dorrell said.

With AI automating many entry-level job tasks, Dorrell said, students need to consider the long-term outlook of their degree.

“You have to research your field to determine the risk level associated with AI, or automation, and the demand in your field going forward five, 10, 20 years,” Dorrell said.

It isn’t all bad news, Dorrell said, as young entrepreneurs can use AI to their advantage to speed up the growth of their business. That’s something that Ramey is considering as she has now slowed down her job application process. 

“I’m working on some personal projects that I have schemed up in my four years here at school that I just haven’t had time to pursue. So, kind of taking advantage of this time where finding a job is a real pain and using it to my advantage,” Ramey said.

While her job search has been discouraging, Ramey said, she is now focused on industries where people still crave human connection.

UT will host its commencement ceremony on Friday. There will be over 700 graduates this semester. 

The University of South Florida will also celebrate its fall graduates. This weekend the school will confer more than 4,100 degrees.