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Economists have found that generative AI tools like ChatGPT have had minimal impact on wages and jobs. Despite rapid adoption, these tools have not led to significant economic benefits. Firms continue to invest heavily in AI infrastructure with limited business adoption. While AI creates some new tasks, productivity gains are less than anticipated, with average time savings barely affecting worker earnings.

Generative AI is not replacing jobs or hurting wages at all

This is too soon. Wait until people get good with the tools, and the tools get better. AI will augment some people significantly and yes it will lead to job displacement for the masses. It’s not really that difficult to understand. AI’s sole value proposition is “do a human’s work instead of humans doing it”. The intention is quite literally to displace workers.

Reading this as Grok generates my code (it’s pretty large) :(

“AI chatbots have had no significant impact on earnings or recorded hours in any occupation,” the authors state in their paper.