Quick link: First data points on the impact of ChatGPT on employment

2023-11-10

The paper: The Short-Term Effects of Generative Artificial Intelligence on Employment: Evidence from an Online Labor Market

What they did: They looked at the impact of the release of ChatGPT on freelancers on Upwork.They found strong indications that it lowered freelance employment and wages, and that high-quality workers might have even been hit worse by it.

Some comments and caveats: Freelance work of this sort is not only a plausible early indicator (having by nature a much faster turnaround than formal employment) but it's also likely to be specially vulnerable to this sort of AI technologies (always keep in mind that 2023-style generative AI is just a subset of generative AI, and generative AI is just a subset of AI):

In a way, AI generative models are a good competitive fit against freelance workers in Upwork-style platforms precisely because they are the underlying archetype of what those platforms try to provide to employers: low cost scalable commodity expertise on demand. And the vulnerability of freelancers to these substitution is just another iteration of what were already long-term eroding wages; anything that makes you searchable makes you fungible, and if you're fungible you're sooner or later cheap.

On the other hands, companies that takes this as good news should be mindful that low cost scalable commodity expertise on demand gives the advantage to incumbents and newcomers with incumbent-sized wallets. Catching up and winning starting from a smaller position and less capital requires out-skilling (apologies for the term) competitors, which by definition means anything a generative AI can do is far below the minimum you need to aim for if you want to be able to survive against competitors that can deploy the same AIs at a much larger scale and with much larger ancillary resources and networks.