AI Expert Warns of Looming Job Displacement as Concerns about Socioeconomic Changes Falter

In a recent Brookings Institute panel on AI and geopolitics, OpenAI CEO Sam Altman expressed his concerns about the potential socioeconomic changes that AI may bring. He noted that discussions around AI’s influence on the economy, such as the possibility of mass job displacement, have waned in the current year compared to before. Altman emphasized the importance of taking these concerns seriously, mentioning the potential consequences if they are dismissed. Despite the lack of a noticeable economic impact from advancements like GPT-4, which powers ChatGPT, Altman believes that these issues are massive and cannot be ignored.

Recent research has shown that AI could disrupt up to 60% of jobs in advanced economies, according to an International Monetary Fund study. Nearly half of these jobs can be automated, leading to reduced hiring and lower wages. Another study by McKinsey projected that around 12 million US workers will need to switch jobs by 2030 due to AI-driven changes in the workforce. Evidence suggests that AI is already affecting workers, with some companies replacing employees with AI chatbots. While there are opportunities for individuals to leverage AI to increase productivity and potentially advance in their careers, Altman remains concerned about the broader implications of AI on the labor market. In previous interviews, he expressed fears about the potential for AI advancements like ChatGPT to lead to substantial job loss, highlighting the need to address these challenges proactively.