Tuesday, 02 January 2024 12:17 GMT

Is AI Really Coming For Our Jobs And Wages?


(MENAFN- Asia Times) The robots were taking our jobs – or so we were told over a decade ago. The same warnings are regularly heard today about the likely impact of artificial intelligence (AI).

Tech breakthroughs have long stirred fears of workplaces being wiped out by automation, with generative AI platforms such as ChatGPT inspiring the latest round of occupational angst.

We often see this dread of AI replacing our livelihoods in news articles reporting on new worker survey findings, or in online forums talking of AI“job massacres.”

A similar gloom pervaded earlier research speculating about the future impact of automation and an impending robot apocalypse.

At Oxford University, researchers Carl Benedikt Frey and Michael Osborne warned in 2013 that 47% of US jobs were at high risk of automation“perhaps in a decade or two.” Soon after, the New Zealand Institute of Economic Research estimated some 50% of New Zealand jobs might also be vulnerable.

The media amplified such warnings with alarming headlines such as“You Will Lose Your Job to a Robot – and Sooner Than You Think.”

In 2017, Nobel Prize winner Daron Acemoglu and Pascual Restrepo provided the first concrete evidence that robots had begun displacing jobs and lowering wages in the US economy.

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Asia Times

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