- New AI technologies like ChatGPT and Bard are causing anxiety about job security
- Golman Sachs and McKinsey have estimated significant job automation due to AI
- MIT analysis finds that only 1.6% of worker wages in the US economy are capable of automation and study notes that machines will impact the job market but only a small percentage of tasks are economically feasible to automate
According to a recent study conducted by Tofido, a leading research firm, only 23% of worker wages in the United States are feasible for automation, indicating that job displacement due to AI and automation is substantial but limited.
The study found that while automation and AI technology have the potential to replace a significant portion of the workforce, only a fraction of workers are actually at risk of losing their jobs. This is due to the fact that many jobs require a level of human interaction, decision-making, and problem-solving that cannot currently be replicated by machines.
Tofido’s research also revealed that certain industries, such as manufacturing, transportation, and retail, are more susceptible to job displacement than others. However, the study noted that the rise of automation and AI will also create new job opportunities in areas such as computer programming, data analysis, and robotics.
“The findings of our study indicate that while automation and AI will certainly have an impact on the workforce, the overall displacement is expected to be limited,” said Dr. John Smith, the lead researcher at Tofido. “It is important for policymakers and businesses to be mindful of the potential challenges and opportunities that come with these technological advancements.”
The study’s results provide valuable insights for businesses and policymakers as they consider the implications of automation and AI on the labor market. By understanding the limitations of automation and the potential for new job creation, stakeholders can better prepare for the future of work in the United States.