ChatGPT is not good enough to take jobs and mass layoffs are unlikely to happen :
AI is often portrayed as a job killer. But companies will likely use this technology to do more with the same number of employees.
It's over. Remember? Once the AI started reading, writing, and programming, all the work would be automated and fast.The lawyers were persistent. Cargo Base Engineers. And reporters, well, it's a small miracle that we're writing this story.
But eight months after the release of ChatGPT and several years after the launch of other AI-powered business tools, the side effects have subsided. Artificial intelligence is widespread, but the planned mass layoffs have not been implemented.In the US there is still full employment, only 3.5% are unemployed.
The usual narrative might say otherwise, but the road to AI-induced mass unemployment is not an easy one. The AI technology, impressive as it is, is still not good enough to handle most tasks. Instead of cutting our jobs, companies just want us to get better.And companies looking to replace humans with robots are learning that managing change is difficult.
“There will be no industrial collapse caused by AI”; says Sarah Guo, a venture capitalist who invests in AI startups.
It's over. Remember? Once the AI started reading, writing, and programming, all the work would be automated and fast.The lawyers were persistent. Cargo Base Engineers. And reporters, well, it's a small miracle that we're writing this story.
But eight months after the release of ChatGPT and several years after the launch of other AI-powered business tools, the side effects have subsided. Artificial intelligence is widespread, but the planned mass layoffs have not been implemented.In the US there is still full employment, only 3.5% are unemployed.
The usual narrative might say otherwise, but the road to AI-induced mass unemployment is not an easy one. The AI technology, impressive as it is, is still not good enough to handle most tasks. Instead of cutting our jobs, companies just want us to get better.And companies looking to replace humans with robots are learning that managing change is difficult.
“There will be no industrial collapse caused by AI”; says Sarah Guo, a venture capitalist who invests in AI startups.
To illustrate the complexity of outsourcing work to AI, consider radiologists, who are always in high demand, although they are a popular example among those predicting that robots will take over our jobs. At the Mayo Clinic, for example, about 500 radiologists use AI tools to track and classify body images. AI will help them better fill the gap in medical staff.And while it's extremely helpful, it's not possible to make quick decisions about identifying rare diseases or recommending treatments.
"In a way, this could actually increase the need for radiology as AI helps us extract more information from images than ever before," says Dr. Bradley Erickson, a neuroradiologist who leads the AI lab at the University of California. Mayo Clinic. "We are always looking for employees" This complexity exists in all areas. So when you see a company announce that they will replace their employees with artificial intelligence, read this with some skepticism. However, these organizations tend to scale down in size and seek positive returns for investors.As a former IBM employee told us, it's much easier for the PR department to announce that they're going to give AI 7,800 roles than to give AI the job for those people. .
Certainly like any new technology, this wave of artificial intelligence will impact some jobs. And it's possible that as technology improves, some companies will make tweaks and automations. There could be significant shifts at this point, but mass unemployment is unlikely. But so far the twists have become reality.
Daron Acemoglu, an economics professor at MIT, says that even if the technology becomes good enough to replace call centers or taxi drivers en masse, employers and industry will still have choices about what to do. No outcome is predetermined, he says. In the meantime, however, it is worth betting on the people. "We know of many domains that have been automated quickly and aren't delivering the returns promised," says Acemoglu. "People are underestimated."
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