The prospect of Artificial Intelligence (AI) transforming the workplace has raised many concerns. In particular, OpenAI’s latest research demonstrated that their developed AI (ChatGPT) could have significant impact on white-collar workers, potentially reversing decades of tech-driven wage inequality. Yet, while the new AI technology offers some promise, it is uncertain if it will bring about the desired result of less income disparity.
OpenAI’s research suggests that large language models could affect at least 10% of tasks for 80% of the worker population and 50% of tasks for 19% of the workforce. This study also noted that more skilled workers – those holding bachelor’s, master’s, and professional degrees – were more likely to be adversely impacted. Despite this, AI holds the potential to reduce income inequality by replacing highly paid skilled workers and simultaneously creating more jobs for lower-skilled workers.
To ensure that the technology lessens rather than expands inequality, MIT economists David Autor and Daron Acemoglu warned that changes in training, hiring and government guidance is needed. Autor also emphasized that “it is a new game, and we don’t know what that new game is going to be,” noting that corporations’ profit-focused race to develop AI and automation technologies might not be in the best interest of all people.
OpenAI, the company behind the AI ChatGPT, is one of the world’s leading research labs aiming to develop responsible, beneficial AI technology. Founded in 2015 by Elon Musk, Sam Altman and other silicon valley luminaries, OpenAI is backed by over $2 billion in funding from technology investors, such as Microsoft. Seeking to ensure that all people obtain the most benefit from their AI development, OpenAI has established plans to share its technology with other AI research companies and organizations.
The influential MIT economist, Daron Acemoglu, is a noted expert on automation and labor markets. Speaking on the dynamics between the economy and automation, such as robots, Acemoglu has proposed that “we are in a period of profound technological change and one in which future technological revolutions will be based on machines that are increasingly more capable and sophisticated in how they interact with the world.” His research on how automation has affected the earnings of low-skilled workers has also greatly shaped popular views on the economic consequences of automation.
