Many are worried that GenAI will take jobs. It probably will.
The original Luddites smashed looms during the early days of the Industrial Revolution because they believed the machines threatened their livelihoods. The Luddite’s thesis was borne out. Industrialization did negatively impact their livelihoods. But the automation paradox held—the technology created more new roles than it destroyed.* The net effect was more jobs for more people.
This net increase in jobs occurs at the societal level. It offers little comfort to the displaced who struggle to find a place for themselves while the rich only get richer off the disruption.
So far, the impact of GenAI on jobs is not even a rounding error. But we are early days.
Recommended Reading
Generative AI has the potential to transform knowledge work by automating tasks, reducing cognitive load, boosting cognitive capabilities, and improving learning. While generative AI tools can enhance performance and productivity, it is important to define policies, encourage experimentation, and celebrate successes. Knowledge workers should embrace generative AI as a tool to enhance their cognitive abilities and job-specific skills. The time to start using generative AI is now, as companies are rapidly adopting these technologies in various industries.
A team of MIT researchers has found that replacing human workers with AI is currently more expensive in many cases. The upfront costs of AI systems and the difficulty of separating automatable tasks from other parts of jobs contribute to this conclusion. However, the researchers acknowledge that these economics may change over time. They suggest that policy and retraining can help mitigate the impact of AI job displacement. While there is concern about job losses due to AI, tech leaders remain optimistic, believing that new and better jobs will emerge. The MIT study focused on computer vision-assisted tasks and highlighted the need for meaningful regulatory frameworks to prepare for the future.
The Screen Actor's Guild (SAG-AFTRA) has signed a controversial deal with Replica Studios to allow AI-generated voice acting in video games. The agreement, which was approved by the union's voiceover performer community, provides licensing opportunities for SAG-AFTRA talent. However, there is pushback from voice actors who claim they were not consulted or informed about the deal, raising concerns about the precedent it sets.
The role of "head of AI" is becoming increasingly popular, but its exact responsibilities and parameters are still unclear. Companies are hiring individuals for this position to incorporate AI into their products, improve business models, and keep up with AI disruption. The nature of AI technology and its potential impact make it a crucial role for companies, with the expectation that it will become more commonplace in the future. The head of AI can come from various backgrounds, including technology leadership positions or nontech roles, and their specific duties depend on the type of company. Overall, the head of AI is seen as a long-term role that will drive innovation and transformation.
ChatGPT and generative AI will change how we work, but how different is this to all the other waves of automation of the last 200 years? What does it mean for employment? Disruption? Coal consumption?
Investor Vinod Khosla predicts that AI will lead to free doctors, tutors, and lawyers within 10 years. He also believes that there will be a billion bipedal robots in 25 years. Khosla emphasizes the positive impact of AI and encourages focusing on its benefits rather than dystopian scenarios. He sees AI as a way to reinvent societal infrastructure and provide resources to all. Khosla has been vocal about the potential of AI for years and has invested in AI startups.
Which tasks are on AI’s chopping block?
Employers are increasingly seeking staff with AI skills, particularly in HR teams. The use of AI tools, such as ChatGPT, is expanding in both technical and non-technical roles. However, there is a need for human input to ensure personalized responses and avoid potential risks. AI training and guidelines are not yet widely provided by employers, but professionals are encouraged to become AI-literate to enhance their job performance.
53% of companies currently use AI, and 24% plan to start in 2024. 37% of companies using AI say the technology replaced workers this year. 44% of companies surveyed say AI will lead to layoffs in 2024. 96% of companies hiring in 2024 say candidates will benefit from having AI skills. 83% say AI skills will help current employees retain their jobs.