A new study by the Booth School of Business at the University of Chicago shows that the use of GenAI, at least so far, hasn’t had any measurable impact on jobs and wages:
“AI chatbots have had no significant impact on earnings or recorded hours in any occupation," the authors state in their paper.
One might consider this a reason for celebration (“no, AI won’t make you unemployed”), but it has a very important implication:
“The adoption of these chatbots has been remarkably fast," Humlum told The Register. "Most workers in the exposed occupations have now adopted these chatbots. Employers are also shifting gears and actively encouraging it. But then when we look at the economic outcomes, it really has not moved the needle.”
Despite the billions of dollars being poured into AI, the economic impact (again, so far) seems to have been minimal…
