OpenAI's introduction of ChatGPT in November 2022 marked a significant milestone in the field of artificial intelligence. With its astonishing ability to provide human-like responses, ChatGPT has the potential to transform and even replace certain jobs in the near future...
In March 2023, OpenAI published a working paper titled “GPTs are GPTs: An Early Look at the Labor Market Impact” which delves into the influence of large language models (LLMs) and generative AI applications such as ChatGPT on the labour market. The research specifically analyses U.S. industries and occupations that are most affected by these AI models, considering both roles where AI can enhance human work and those that could potentially be fully automated.
In the article below, written by the team at Déjà Partners, we provide a summary of the research findings from this important paper.
According to OpenAI’s research, approximately 80% of the American workforce is engaged in occupations where at least 10% of their tasks can be performed or aided by AI. One-fifth of the workforce belongs to occupations where 50% of work tasks would be impacted by artificial intelligence.
The paper highlights several jobs that are likely to face AI disruption, including accountants, legal assistants, journalists, mathematicians, and web designers. These professions involve repetitive tasks, data analysis, and routine decision-making, making them highly susceptible to AI-driven automation.
On the other hand, some job categories are expected to be least exposed to AI disruption. Athletes, short-order cooks, barbers/hair stylists, and large equipment operators are among the occupations that are less likely to be impacted.
The research also revealed that AI exposure correlates directly with wages and education level. Professionals with higher education degrees tend to face a greater impact from AI compared to those without such qualifications.
Interestingly, occupations that require a significant amount of on-the-job training were found to have the least amount of work tasks exposed to AI, in contrast to jobs with minimal or no training requirements.
While AI has the potential to automate repetitive and predictable tasks, jobs that require creativity, cultural understanding, social interactions, and sound judgement are less susceptible to full automation. However, the integration of AI into these roles can result in job transformation, with workers leveraging AI to enhance their output and efficiency.
The full impact of ChatGPT and similar AI models on the job market and the economy remains to be seen. It is important to recognise that AI exposure encompasses not only job replacement but also job transformation. As the AI landscape continues to evolve rapidly, it is crucial for industries and job-seekers to adapt and leverage the potential benefits of AI technology.
In conclusion, the advent of AI technologies like OpenAI’s ChatGPT represents both a challenge and an opportunity for the labour market. The research presented by OpenAI suggests a substantial impact of AI on many occupations, particularly those involving repetitive tasks and data analysis. However, it also highlights areas where AI is less likely to replace human work, such as jobs requiring creativity, cultural understanding, and social interaction. While the full impact of AI on the job market is yet to unfold, it is clear that AI is poised to both replace and transform various occupations. As the AI landscape continues to rapidly evolve, industries and job-seekers must anticipate these changes, adapt their skills and processes, and seize the opportunity to leverage AI’s potential to enhance productivity and efficiency.
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