Part 1/3:
The Impact of Generative AI on the Labor Market
Significant Short-Term Job Replacement
The introduction of generative AI tools like ChatGPT has led to a 21% decrease in the weekly number of posts for automation-prone jobs compared to manual-intensive jobs.
Writing jobs were affected the most, with a 30% decrease, followed by software app/web development (20%) and software engineering (10%).
There are no signs of demand rebounding, revealing a growing trend of job replacement by generative AI.
Increased Competition for Remaining Jobs
The number of bids submitted by freelancers to secure job posts in automation-prone jobs rose by 8.5% after the introduction of ChatGPT.
In the author's personal experience, this increase was as high as 400%, meaning much more competition for the remaining jobs.
Opportunities for Those Who Adapt
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