Technological developments shift the kinds of skills needed in the labor force. From innovations in agriculture to electricity to the personal computer to the internet, technology has shaped the way we work and the types of workers we need to produce the goods and provide the services that consumers demand. A recent survey of financial leaders indicated 60 percent of firms (and almost all large firms) have implemented software, equipment, or technology in the last year to automate tasks previously completed by employees, and of those, almost 40 percent reported specifically using AI technology. We asked our Fifth District businesses if and why they were automating and using generative AI. Over the past two years, fewer than half of firms have engaged in new automation, and about 35 percent of those firms have implemented AI. As new technology develops, business surveys will continue to be a core source of information to help measure and understand the extent of automation and AI adoption and its economic implications.