The bogus four-day workweek that AI supposedly frees up'

"The front-page headline in a recent Washington Post was breathless: These companies say AI is key to their four-day workweeks. The subhead was euphoric: Some companies are giving workers back more time as artificial intelligence takes over more tasks. As the Post explained: more companies may move toward a shortened workweek, several executives and researchers predict, as workers, especially those in younger generations, continue to push for better work-life balance. Hurray! There's utopia at the end of the AI rainbow! A better work-life balance!"

"You may have come across similar articles in Fortune magazine and the New York Times. The AI spin brigade is in full force. Business leaders are rhapsodizing about how AI will free their employees to take more time off. Zoom's Eric Yuan told the Times that A.I. can make all of our lives better, why do we need to work for five days a week? Every company will support three days, four days a week. I think this ultimately frees up everyone's time."

"Elon Musk pushes the idea to the extreme (as he does everything else): In less than 20 years but maybe even as little as 10 or 15 years the advancements in AI and robotics will bring us to the point where working is optional. Even better: There will be no poverty in the future and so no need to save money, says Musk. There will be universal high income."

"All of this is pure rubbish. Even if AI produces big productivity gains which is still an open question (an MIT study last year found that despite $3040 billion in enterprise investment into GenAI, 95% of organizations are getting zero return) it's far from clear that workers will see much, if any, of the benefits. If productivity rises, as it's supposed to do when the workplace becomes immersed in AI, each worker"

Business leaders and tech executives claim that AI will free workers and enable dramatically shorter workweeks, with some predicting three-day or even two-day workweeks and universal high income. Optimistic statements include assertions that AI will make lives better and make working optional. Substantial corporate investment in generative AI has not produced widespread returns; one MIT study found that despite $3,040 billion invested, 95% of organizations get zero return. Productivity gains from AI remain uncertain. Even if productivity rises, there is no clear mechanism ensuring that workers will receive a proportional share of the benefits.

Read at www.theguardian.com