Is the Labor Market Already Disrupted?

No matter where you sit within the economy, whether you're a CEO or an entry level worker, everyone's feeling uneasy about AI and the future of work. Uncertainty about career paths, job security, and life planning makes thinking about the future anxiety inducing. In this episode, Daniel Barcay sits down with two experts on AI and work to examine what's actually happening in today's labor market and what's likely coming in the near-term. We explore the crucial question: Can we create conditions for AI to enrich work and careers, or are we headed toward widespread economic instability? 

Ethan Mollick is a professor at the Wharton School of the University of Pennsylvania, where he studies innovation, entrepreneurship, and the future of work. He's the author of Co-Intelligence: Living and Working with AI.

Molly Kinder is a senior fellow at the Brookings Institution, where she researches the intersection of AI, work, and economic opportunity. She recently led research with the Yale Budget Lab examining AI's real-time impact on the labor market. 

RECOMMENDED MEDIA

Co-Intelligence: Living and Working with AI by Ethan Mollick

Further reading on Molly’s study with the Yale Budget Lab

The “Canaries in the Coal Mine” Study from Stanford’s Digital Economy Lab

Ethan’s substack One Useful Thing
 

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CORRECTIONS

1. Ethan said that in 2022, experts believed there was a 2.5% chance that ChatGPT would be able to win the Math Olympiad. However, that was only among forecasters with more general knowledge (the exact number was 2.3%). Among domain expert forecasters, the odds were an 8.6% chance.
2. Ethan claimed that over 50% of Americans say that they’re using AI at work. We weren’t able to independently verify this claim and most studies we found showed lower rates of reported use of AI with American workers. There are reports from other countries, notably Denmark, which show higher rates of AI use.
3. Ethan indirectly quoted the Walmart CEO Doug McMillon as having a goal to “keep all 3 million employees and to figure out new ways to expand what they use.” In fact, McMillon’s language on AI has been much softer, saying that “AI is expected to create a number of jobs at Walmart, which will offset those that it replaces.” Additionally, Walmart has 2.1 million employees, not 3.

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