AI Impact on US Jobs: New Study
Source: cnn.com
AI's Impact on the US Labor Market
A recent study by a Yale University research center suggests that ChatGPT isn't yet causing substantial disruption in the US job market, despite widespread fears since its launch. These concerns arose from the increasing use of generative AI, the technology behind ChatGPT, as US companies explore AI to lower expenses via automation.
The researchers analyzed how workers are distributed among available jobs since ChatGPT's introduction. Generative artificial intelligence can produce original content like text and images based on user prompts.
Study Findings
The study, published by The Budget Lab, aimed to assess if AI is significantly altering the workforce by reallocating jobs, automating positions, or generating new ones. The researchers stated that their metrics indicate no significant labor market upheaval since ChatGPT's release, which counters fears of AI automation diminishing the need for cognitive labor.
However, they acknowledged that generative AI adoption is in its early phases and their findings are not predictive. They intend to continuously monitor data to evaluate how AI's effects on employment might evolve.
While the study indicates that AI is not yet broadly affecting the labor force, some tech companies like Dropbox and Duolingo have attributed layoffs to AI. A prior survey revealed that many employers worldwide were planning to reduce staff as AI takes over some duties.
The Limits of AI
The limitations of AI are becoming more apparent, including the additional work needed for humans to verify AI's output. A Massachusetts Institute of Technology report revealed that most companies are not profiting from AI implementation. One possible reason is that employees may be using AI to produce low-effort work, which then generates more work for their colleagues—a phenomenon described as "workslop" in a Harvard Business Review report.