Work value in the AI era depends on what people actually do rather than job titles. A task-based labor market approach measures changes by tracking creation and destruction of individual tasks within jobs. Millions of job postings are processed with natural language methods to extract work activities and map them to occupational tasks in O*NET. Similar tasks across different occupations are treated as transferable value when AI enables overlap. Each task is assigned a wage value by linking extracted activities to payroll data. The outcome is a real-time map showing which activities gain value and which are absorbed and priced toward zero as AI advances.
"“In the age of AI,” as Richardson has written, “work won't be defined by job titles. It will be defined by what people actually do.” This is why her project seeks to measure the labor market not by job creation and destruction - the traditional economist's scorecard - but by the creation and destruction of individual tasks within jobs."
"ADP has collected millions of job postings going back years and using natural language processing, Richardson's team extracts specific work activities from the text of those postings and maps them against O*NET, the Department of Labor's catalog of occupational tasks. From there, the team compares the similarity of tasks across wildly different job categories."
"If a software developer and marketing director are doing the same tasks because AI makes that possible, Richardson doesn't group those under two different occupations as the old framework would have. To her, they share transferable value. Then the team assigns a wage value to each discrete task by cross-referencing ADP's payroll data."
"The result, when complete, will be something that doesn't yet exist anywhere: a real-time map of which specific activities are becoming more valuable as AI advances, and which are being absorbed - priced toward zero."
#ai-and-jobs #task-based-labor-market-measurement #workforce-analytics #payroll-and-job-postings-data #onet-occupational-tasks
Read at Fortune
Unable to calculate read time
Collection
[
|
...
]