If your job hasn't been impacted by AI yet, it probably will be in the coming years. According to Goldman Sachs, around 300 million full-time jobs worldwide could be affected by generative AI like ChatGPT. However, the specific impacts will vary depending on the industry and role.
The adoption of AI could have positive effects on some workers. It could make tasks more efficient, reduce time spent on boring responsibilities, lead to higher wages, enable remote work, and even contribute to a shorter workweek. On the other hand, some workers may face increased competition, lower pay, or even the replacement of their jobs by AI technologies.
Experts in AI, economics, and remote work have discussed the various ways AI could impact American workers. AI could make jobs easier and less tedious by assisting with time-consuming tasks like research, writing, and data analysis. This would give workers more time to focus on more interesting aspects of their jobs.
While AI technologies like ChatGPT may create new job opportunities, they could also increase competition for existing jobs. For instance, writers and coders could face competition from individuals assisted by AI tools. The key impact of the AI boom could be making jobs more competitive rather than outright replacement.
The increased productivity brought about by AI could lead to higher profits for companies. How these profits are distributed, whether through higher wages or not, depends on how AI is adopted by different firms. Some industries may become more competitive, potentially keeping wages down for workers.
AI productivity gains could alleviate concerns about remote workers' productivity which could help maintain the prevalence of remote work in some businesses. However, there are debates about the productivity levels of remote workers. AI tools in call centers, for example, have been found to increase productivity. On the other hand, some companies may use AI to monitor remote workers, raising privacy concerns.
There is a possibility that some remote jobs could be replaced by AI. Fully remote positions like data entry, payroll, content marketing, and basic coding are more likely to be affected.
AI advancements, including tools like ChatGPT, could contribute to the realization of a four-day workweek by increasing labor productivity. However, it's important to note that this doesn't automatically result in less work for workers. Some organizations may expect employees to produce more within the same timeframe.
In summary, AI will have a significant impact on the future of work. While it can enhance productivity, make jobs more interesting, and potentially lead to higher wages it can also increase competition, replace certain jobs, and have varying effects on remote work arrangements. The distribution of profits and the potential for a shorter workweek will depend on how AI is implemented and managed by companies.