ECB: AI does not yet threaten jobs.

The European Central Bank (ECB) has published research showing that artificial intelligence (AI) may reduce income, but does not yet threaten jobs.

On November 28, the ECB published a study on the widespread application of AI technology after surveying 16 European countries. According to the study, the ECB found that the number of jobs related to AI is increasing.

Low- and medium-skilled jobs are largely unaffected by AI. Highly skilled positions are even benefiting the most from this technology. Specifically, AI is creating many new jobs for skilled young people.

However, they also noted a "mild to moderate negative impact" on workers' incomes. This impact could worsen.

"These results are not the end of the story. AI-based technologies continue to be developed and applied. Much of the impact on income and employment, as well as on growth and equality, is yet to be fully realized," the report stated.

These results show a contrast to previous "technological waves." Accordingly, the advent of computers "has reduced the demand for hiring medium-skilled workers," thereby causing "polarization" in the job market.

The rapid development of AI in recent times has sparked much debate. Companies are investing heavily in AI, prompting economists to intensely study the impact of this technology on the labor market.

AI is raising concerns in the community about the future of their careers. Business owners are also struggling to find qualified workers, despite the fact that economic downturns usually ease pressure on the job market.

Last month, the AI ​​Safety Summit 2023 was held in the UK, aiming to identify the risks that this technology could pose and develop appropriate management measures. At the summit, Tesla CEO Elon Musk even predicted that in the future, humans will no longer need jobs because AI can do everything.

Ha Thu (according to Reuters)

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