WASHINGTON (dpa-AFX) - High anxiety regarding artificial intelligence displacing workers has prompted MIT's Computer Science and Artificial Intelligence Lab researchers to assert that the economy is not yet prepared for widespread job displacement by machines.
Their findings reveal that the impact of AI on the job market will likely unfold at a slower pace than previously anticipated, with the majority of jobs considered vulnerable to AI not currently conducive to automation from an economic standpoint.
The study's findings revealed that only about 23% of the current wages paid to human workers for potentially AI-replaceable roles would be cost-effective for employers to automate at this time. While this could change in the future, the overall conclusion is that AI-induced job disruption will likely occur gradually, rather than abruptly.
Neil Thompson, one of the study's authors and the director of MIT's Computer Science and AI Lab's future tech research project, told CNN in an interview. 'What we're seeing is that while there is a lot of potential for AI to replace tasks, it's not going to happen immediately'.
While reports from entities like the International Monetary Fund, Goldman Sachs, and McKinsey suggest significant AI-driven job displacement, which will deepen existing inequality and a survey from the University of Pennsylvania, NYU, and Princeton finds that ChatGPT alone could impact around 80% of jobs, MIT researchers caution that the majority of jobs at risk of AI displacement are not currently 'economically beneficial' for automation.
Thompson also underscores the importance of considering the economic feasibility of implementing AI systems. This gradual pace of AI disruption to jobs presents an opportunity for policymakers, employers, and workers to proactively prepare and adapt to forthcoming changes and address AI's impact on the labor market.
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