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   Generative AI isn't biting into wages, replacing workers, and isn't saving   
   time, economists say   
      
   Date:   
   Tue, 29 Apr 2025 14:13:00 +0000   
      
   Description:   
   Generative AI isn't actually saving workers that much time, plus it could be   
   adding to some workloads.   
      
   FULL STORY   
      
   According to a new working paper from the University of Chicago's Becker   
   Friedman Institute for Economics, generative AI chatbots like ChatGPT,    
   Gemini, and Claude have had minimal to no impact on wages or employment so   
   far, despite initiation concerns and worker apprehension.    
      
   The findings come from a study of around 25,000 workers in Denmark across 11   
   AI-exposed occupations. The study found no significant changes in earnings or   
   hours worked after the implementation of these AI tools.    
      
   Anders Humlum and Emilie Vestergaard, the paper's authors, also noted no   
   noticeable economic outcomes, such as total employment and wage bills at the   
   firm level.   
      
   GenAI isn't actually affecting workers that much, study finds    
      
   The paper explores how companies can guide their workers, noting that   
   encouragement and training efforts can boost adoption. Firm-led investments   
   nearly doubled adoption rates from 47% to 83%, according to the research.    
      
   However, the average time savings reported by users was only 2.8%  just over   
   an hour on the basis that an employee is working a 40-hour week. Furthermore,   
   only 8.4% of workers saw new jobs being created, such as teachers monitoring   
   AI-assisted cheating, workers editing AI outputs and crafting better prompts.    
      
   Contrary to the time-saving promises, Humlum and Vestergaard noted that these   
   additional responsibilities actually increased workloads in some cases,   
   meaning that time savings only translated into higher earnings 3-7% of the   
   time.    
      
   The researchers noted: "While AI chatbots are now widely used  saving users   
   time and creating new job tasks, especially in workplaces that encourage    
   their use  their overall impact on the labor market remains limited."    
      
   They also noted that "labor market rigidities appear to delay the economic   
   impact," demonstrating how a company's approach to artificial intelligence    
   can dictate its success.   
      
   ======================================================================   
   Link to news story:   
   https://www.techradar.com/pro/generative-ai-isnt-biting-into-wages-replacing-w   
   orkers-or-saving-time-economists-say   
      
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