The Real Threat of AI Is Not Unemployment, But Stagnant Wages
A white paper from Apollo Global Management states that AI may not directly replace jobs, but has begun to suppress wages. A study tracking 321 occupations found that job roles with high exposure to AI have seen an average wage growth decline of 6.7% since the popularity of ChatGPT in 2023, while overall employment has not been significantly affected, indicating that the more common crisis today is wage cuts rather than unemployment.
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