The EconomistThe Economist

Don’t fear an AI-induced jobs apocalypse just yet

06 Mar 2023 · 6 min read

Fears that automation will end jobs for humans are nothing new. But the immediate problem for advanced economies "is not too much automation, but too little," writes The Economist.

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“I think we might exceed a one-to-one ratio of humanoid robots to humans,” Elon Musk declared on March 1st. Coming from the self-styled technoking of Tesla, it was not so much a prediction as a promise. Mr Musk’s car company is developing one such artificially intelligent automaton, codenamed Optimus, for use at home and in the factory. His remarks, made during Tesla’s investor day, were accompanied by a video of Optimus walking around apparently unassisted.

Given that Mr Musk did not elaborate how—or when—you get from a promotional clip to an army of more than 8bn robots, this might all smack of science-fiction. But he has waded into a very real debate about the future of work. For certain forms of AI-enabled automation are fast becoming science fact. Since November ChatGPT, an AI conversationalist, has dazzled users with its passable impression of a human interlocutor. Other “generative” AIs have been conjuring up similarly human-like texts, images and sounds by analysing reams of data on the internet. Last month the boss of IBM, a computing giant, forecast that AI will do away with much white-collar clerical work. On March 6th Microsoft announced the launch of a suite of AI “co-pilots” for workers in jobs ranging from sales and marketing to supply-chain management. Excitable observers murmur about a looming job apocalypse.

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