The popularization of generative artificial intelligence, driven by the success of chatbots like ChatGPT, has made many tremble at the possibility of being replaced by it. For now, all those concerns have not materialized as expected, but it may simply be a matter of time… or lack of money.
During an interview at the Fortune Global Forum in New York, the IMF’s Deputy Managing Director, Gita Gopinath, stated that human workers could be replaced by AI if things worsen economically. According to the publication, Gopinath clarified that “when times are good and companies are making a lot of profits, they hold on to workers […] they invest in [AI] technology, but they hold on to workers.”
We all know that in times of economic crisis, companies tend to lay off people. However, the fact that there is an economic recovery afterward does not mean that those jobs will return. Gopinath explains that a “jobless recovery is a reflection of companies ultimately dispensing with workers, fully automating the task and not rehiring.” This is something that could happen with the evolution of AI. Even so, how this technology could affect the labor market remains a subject of debate.
Goldman Sachs published a study in March 2023 indicating that, globally, there were 300 million jobs that could be automated. On the other hand, the study also highlighted the creation of new jobs, something that could offset this technological transition and lead to a growth in employment levels.
According to the study, it is estimated “that AI could potentially increase the annual global GDP by 7%.” However, they also emphasize that everything depends on the capabilities of the technology and how we will adopt it in our daily lives.
