Fears that artificial intelligence technology will lead to a wave of job losses in the software sector might be exaggerated, according to Moody's. Software-related employment has risen about 15% from 2019, compared to 5% for the rest of the private sector, the credit-ratings provider says, citing data from the U.S. Bureau of Labor Statistics. It adds that an analysis of recent earnings calls by 700 software companies also didn't show a clear trend toward job cuts. In addition, data on new business formation indicate that, rather than erasing software jobs, AI makes setting up such businesses less costly, so enables more technology startups, Moody's says. "Software companies may be reluctant to lay off software engineers in large numbers, since it is now easier for them to band together and develop competing products." (luis.garcia@wsj.com; @lhvgarcia)