AI is hitting entry-level jobs hardest, Stanford study finds
Young employment in AI-impacted fields down 19% compared to more AI-resistant occupations.
Young employment in AI-impacted fields down 19% compared to more AI-resistant occupations.
The short version
- For years , AI industry watchers of all stripes have been warning of a coming jobs apocalypse driven by ultra-intelligent AI systems that will be able to replicate most human tasks more cheaply.
- Now, newly updated research from Stanford University economists suggests AI seems to be causing significant entry-level job losses for younger workers in some fields, even as older workers appear largely unaffected so far.
- Digging deeper into the data, the researchers found that this phenomenon is mainly manifesting itself through lower hiring rates for entry-level workers in AI-impacted fields, rather than increased firings or employees quitting.
What happened
They also found that the labor market effects among this age group were mostly seen in lower overall employment, rather than reduced pay rates. Unsurprisingly, jobs where AI automation is prevalent are the ones showing the worst relative employment levels for entry-level workers these days.
Why it matters
“The findings are consistent with automation-oriented uses of AI substituting for labor while complementary uses are associated with flat or rising employment,” the researchers write.
Summary by Nerd News Network. Read the full article at Ars Technica via the links above and below.