Generative AI technology such as ChatGPT, developed by OpenAI, may offer a significant productivity boost for many workers. However, the advent of such technology also brings with it the potential threat of job displacement, according to OpenAI’s CEO, Sam Altman.
The Dual Sides of AI
Altman believes that while AI’s evolution may offer a “tremendous leap forward” for quality of life, the same advancements could also give rise to significant challenges, such as “disinformation problems or economic shocks.” In an interview with The Atlantic, he warned against the idea that AI’s impact on jobs would be entirely positive.
A Harsh Reality for Workers
“Jobs are definitely going to go away, full stop,” said Altman, countering the popular opinion that AI technology will only serve as a beneficial supplement to human workers.
Since ChatGPT’s launch, many experts have acknowledged AI’s potential as a valuable aid to workers, enhancing productivity and reducing the time spent on mundane tasks. Oded Netzer, a professor at Columbia Business School, even suggested that workers should be more concerned about their peers who can effectively use AI rather than fearing AI itself.
However, the fact remains that some jobs are bound to disappear with the rise of AI. Goldman Sachs predicted that around 300 million jobs worldwide could face disruption due to AI.
AI and Job Creation: A Silver Lining?
In the midst of these predictions, Altman maintains a hopeful outlook for the future job market. He expects new, potentially better-paying jobs to emerge in place of the ones disrupted by AI.
The challenge, however, lies in whether displaced workers can transition into these new roles. Drawing parallels from history, Ethan Mollick, an associate professor at the University of Pennsylvania’s Wharton School, referenced the late-19th-century automation of telephone operators. While younger workers adapted and found new jobs, older workers suffered lifelong wage impacts.
AI: A Double-Edged Sword
While AI holds promise for productivity enhancements and new job creation, it also poses serious threats to job security, particularly for certain demographic groups. Altman’s comments provide a much-needed reality check amidst the rush to embrace AI, serving as a reminder of the necessary precautions and plans needed to mitigate AI’s potential negative impacts on the job market.
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