Gen AI Is Not Replacing Jobs Or Hurting Wages At All, Say Economists
In a newly released paper, economists Anders Humlum and Emilie Vestergaard examined the impact of generative AI on the job market in Denmark. Their findings reveal that contrary to popular belief, AI chatbots like ChatGPT and Claude haven’t significantly affected wages or job security across several occupations. The study looked into the employment of approximately 25,000 workers across 11 different roles, suggesting that while AI tools are being adopted rapidly, their economic advantages are yet to materialise.
Key Points
- Generative AI tools have shown minimal impact on job displacement or wage decrease.
- The study analysed data from 25,000 workers across roles deemed vulnerable to AI.
- Fast adoption of chatbots does not equate to significant economic benefits yet.
- Companies are investing billions in AI infrastructure without promised returns.
Why should I read this?
If you’re worried about AI taking over jobs, this article is a must-read. It flips the narrative that AI is a job killer and highlights that, surprisingly, little has actually changed in the labour market. Instead of fretting over robots replacing us, it seems we might just be in for a slow burn when it comes to real economic changes from these technologies. Save yourself the hassle of finding it yourself – reading this will set your mind at ease!