Recent research has shown that the emergence of artificial intelligence has not brought about fundamental changes in the labor market, contrary to what leaders of major technology companies say.
The British newspaper “Financial Times” reported that economic research conducted at the Budget Laboratory at Yale University and the Brookings Institution Center for Studies concluded that generative artificial intelligence, especially after the “OpenAI” company launched the “GPT Chat” tool in November 2022, did not bring about a significant change in the employment market compared to previous technological transformations.
The study analyzed official labor market data and figures from technology companies about the use of artificial intelligence, but researchers found limited evidence that these tools caused workers to be excluded from their jobs.
The study’s findings come amid growing concern that artificial intelligence may lead to more jobs being lost or disappearing.
The analysis showed that “GBT Chat,” which is the most widely used generative artificial intelligence tool, changed to some extent the nature of the jobs offered in the technology sector, but it did not deeply affect the structure of jobs in the American economy, unlike what was caused by the emergence of the Internet and computers, for example.
The researchers confirmed that the increase in the unemployment rate among new graduates is not related to generative artificial intelligence, but rather to the nature of the jobs offered.
These results contradict the statements of technology company leaders, who have repeatedly stressed that artificial intelligence will rapidly change the labor market.
A recent report issued by the British Standards Institute, which included more than 800 business leaders in 8 countries, showed that 39 percent of participants said that artificial intelligence led them to reduce the jobs available for entry-level employees.
Dario Amodei, CEO of Antropic, a company specializing in artificial intelligence, claimed that this technology may lead to a “mass extinction of jobs in the fields of law, consulting and finance,” and said that it may wipe out half of the jobs allocated for entry-level jobs.
On the other hand, OpenAI CEO Sam Altman said that artificial intelligence will eliminate many jobs, but economists considered these estimates to be exaggerated.
“Managers are facing a lot of pressure to use artificial intelligence, and there is a lot of hype pushing them to do so, but the truth is that there are not many uses for it yet,” said MIT economics professor and Nobel laureate Daron Achamoglu.
