Generative AI is not replacing jobs or hurting wages at all, say economists
Instead of depressing wages or taking jobs, generative AI chatbots like ChatGPT, Claude, and Gemini have had almost no significant wage or labor impact so far – a finding that calls into question the huge capital expenditures required to create and run AI models.
In a working paper released earlier this month, economists Anders Humlum and Emilie Vestergaard looked at the labor market impact of AI chatbots on 11 occupations, covering 25,000 workers and 7,000 workplaces in Denmark in 2023 and 2024.
Many of these occupations have been described as being vulnerable to AI: accountants, customer support specialists, financial advisors, HR professionals, IT support specialists, journalists, legal professionals, marketing professionals, office clerks, software developers, and teachers.
Related Knowledge Center: Artificial intelligence
On top of a failing business model, newsrooms must navigate the powerful — and not fully reliable — new capabilities of artificial intelligence and the deployment of large language models.
State of the business model | Copyright and intellectual property