"I think my view, which is also a bit of a guess, but widely shared, I think, is that you are seeing some effects but it's not the main thing driving it,"
"It may be that companies or other institutions that have been hiring younger people right out of college are able to use AI more than they had in the past,"
"That may be part of the story. It's also part of the story, though, that job creation more broadly has slowed down."
"AI could wipe out half of all entry-level, white-collar jobs within the next one to five years."
Evidence indicates AI is affecting the workforce and is likely a factor in recent labor-market shifts. AI adoption may reduce demand for recent college graduates by enabling companies to automate tasks previously filled by entry-level hires. Broader job creation has slowed, which also contributes to weaker hiring for younger workers. Opinions among business leaders vary, with some predicting large-scale displacement of entry-level white-collar jobs and others expressing skepticism. Several firms report already reducing headcount as they deploy AI. AI has the potential to significantly reshape the economy and labor markets going forward.
Read at Business Insider
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