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While artificial intelligence (AI) promises to spur economic growth, there is concern that this may come at the expense of human labor. We utilize data on advances in AI together with occupational definitions to construct an occupation-level measure of the impact of AI, and use this measure to investigate whether and under what circumstances AI may act as a substitute or a complement to labor. We provide broad evidence that occupations impacted by AI may see a decline in wages, but growth in employment, and that this is particularly the case for occupations with complementary skills & technologies. In addition, high-income occupations experience a growth in employment, suggesting that AI may exacerbate inequality.
Felten et al. (Thu,) studied this question.