Artificial Intelligence Job Frenzy Gets a Reality Check
| Source: Mastodon | Original article
AI jobs growth slows 3% since ChatGPT. Coding employment still rises.
As we reported on May 27, OpenAI's Sam Altman stated that AI is unlikely to lead to a 'jobs apocalypse'. A recent paper by economists at the Federal Reserve Board supports this claim, finding that while annual employment growth for coders has slowed by about 3% since the introduction of ChatGPT, overall employment for coders continues to grow. This suggests that the impact of AI on jobs may be more nuanced than initially thought.
The slowdown in employment growth for coders is significant, but it does not necessarily mean that AI is replacing human workers. Instead, it may indicate that the role of coders is evolving, with AI augmenting their work rather than replacing them. Experts point out that AI is unlikely to transform labor markets until it first transforms businesses, and currently, only one in five companies are using AI in any business function.
What to watch next is how industries adapt to AI and integrate new technologies without sacrificing quality or human roles. As companies begin to adopt AI, we can expect to see a shift in the types of jobs available, with a greater emphasis on skills that complement AI, such as critical thinking and problem-solving. The real concern lies in adaptability and how quickly industries can evolve to meet the changing needs of the workforce.
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