How much is AI actually affecting the workforce?
The Indicator from Planet Money
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The Impact of AI on Labor Income Share in the Financial Sector
This chapter examines the effects of AI on the labor market in the financial sector, noting a potential decrease in the labor share of income similar to historical trends during the Industrial Revolution. It predicts a 5% drop in labor income share for knowledge workers, prompting a reevaluation of employment and income distribution in an era of technological advancement.
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