The report found that AI will significantly affect admin and legal work, replacing 46% and 44% of jobs, respectively. Although jobs such as construction and maintenance may only have 6% and 4% of jobs replaced.<\/p>\n\n\n\n
This is due to the technology-driven side of these jobs, where most work is based around documents that follow a standard format - something artificial intelligence could streamline. On the other hand, physical jobs are very hard to replace due to the tricky nature of actually working with your hands in this field - until robots can work more efficiently than humans in plumbing, formwork, and the such - these fields remain mostly untouched by the boom in artificial intelligence.<\/p>\n","post_title":"AI May Replace 300 Million Jobs; Although Generative AI May Also Boost Labor Productivity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-may-replace-300-million-jobs-although-generative-ai-may-also-boost-labor-productivity","to_ping":"","pinged":"","post_modified":"2023-05-09 11:09:43","post_modified_gmt":"2023-05-09 01:09:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
What Industries Will AI Impact The Most?<\/h2>\n\n\n\n
The report found that AI will significantly affect admin and legal work, replacing 46% and 44% of jobs, respectively. Although jobs such as construction and maintenance may only have 6% and 4% of jobs replaced.<\/p>\n\n\n\n
This is due to the technology-driven side of these jobs, where most work is based around documents that follow a standard format - something artificial intelligence could streamline. On the other hand, physical jobs are very hard to replace due to the tricky nature of actually working with your hands in this field - until robots can work more efficiently than humans in plumbing, formwork, and the such - these fields remain mostly untouched by the boom in artificial intelligence.<\/p>\n","post_title":"AI May Replace 300 Million Jobs; Although Generative AI May Also Boost Labor Productivity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-may-replace-300-million-jobs-although-generative-ai-may-also-boost-labor-productivity","to_ping":"","pinged":"","post_modified":"2023-05-09 11:09:43","post_modified_gmt":"2023-05-09 01:09:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The combination of saving money on labor costs, new job creation, among other factors, may see a boom in economic growth.<\/p>\n\n\n\n
What Industries Will AI Impact The Most?<\/h2>\n\n\n\n
The report found that AI will significantly affect admin and legal work, replacing 46% and 44% of jobs, respectively. Although jobs such as construction and maintenance may only have 6% and 4% of jobs replaced.<\/p>\n\n\n\n
This is due to the technology-driven side of these jobs, where most work is based around documents that follow a standard format - something artificial intelligence could streamline. On the other hand, physical jobs are very hard to replace due to the tricky nature of actually working with your hands in this field - until robots can work more efficiently than humans in plumbing, formwork, and the such - these fields remain mostly untouched by the boom in artificial intelligence.<\/p>\n","post_title":"AI May Replace 300 Million Jobs; Although Generative AI May Also Boost Labor Productivity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-may-replace-300-million-jobs-although-generative-ai-may-also-boost-labor-productivity","to_ping":"","pinged":"","post_modified":"2023-05-09 11:09:43","post_modified_gmt":"2023-05-09 01:09:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Generative AI can streamline business workflows, automate routine tasks and give rise to a new generation of business applications.\u201d<\/em><\/p>\n\n\n\n
The combination of saving money on labor costs, new job creation, among other factors, may see a boom in economic growth.<\/p>\n\n\n\n
What Industries Will AI Impact The Most?<\/h2>\n\n\n\n
The report found that AI will significantly affect admin and legal work, replacing 46% and 44% of jobs, respectively. Although jobs such as construction and maintenance may only have 6% and 4% of jobs replaced.<\/p>\n\n\n\n
This is due to the technology-driven side of these jobs, where most work is based around documents that follow a standard format - something artificial intelligence could streamline. On the other hand, physical jobs are very hard to replace due to the tricky nature of actually working with your hands in this field - until robots can work more efficiently than humans in plumbing, formwork, and the such - these fields remain mostly untouched by the boom in artificial intelligence.<\/p>\n","post_title":"AI May Replace 300 Million Jobs; Although Generative AI May Also Boost Labor Productivity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-may-replace-300-million-jobs-although-generative-ai-may-also-boost-labor-productivity","to_ping":"","pinged":"","post_modified":"2023-05-09 11:09:43","post_modified_gmt":"2023-05-09 01:09:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
\u00a0\u201cAlthough the impact of AI on the labor market is likely to be significant, most jobs and industries are only partially exposed to automation and are thus more likely to be complemented rather than substituted by AI<\/em>.<\/p>\n\n\n\n
Generative AI can streamline business workflows, automate routine tasks and give rise to a new generation of business applications.\u201d<\/em><\/p>\n\n\n\n
The combination of saving money on labor costs, new job creation, among other factors, may see a boom in economic growth.<\/p>\n\n\n\n
What Industries Will AI Impact The Most?<\/h2>\n\n\n\n
The report found that AI will significantly affect admin and legal work, replacing 46% and 44% of jobs, respectively. Although jobs such as construction and maintenance may only have 6% and 4% of jobs replaced.<\/p>\n\n\n\n
This is due to the technology-driven side of these jobs, where most work is based around documents that follow a standard format - something artificial intelligence could streamline. On the other hand, physical jobs are very hard to replace due to the tricky nature of actually working with your hands in this field - until robots can work more efficiently than humans in plumbing, formwork, and the such - these fields remain mostly untouched by the boom in artificial intelligence.<\/p>\n","post_title":"AI May Replace 300 Million Jobs; Although Generative AI May Also Boost Labor Productivity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-may-replace-300-million-jobs-although-generative-ai-may-also-boost-labor-productivity","to_ping":"","pinged":"","post_modified":"2023-05-09 11:09:43","post_modified_gmt":"2023-05-09 01:09:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Despite potentially replacing full-time jobs, generative AI, such as ChatGPT, may drive a 7% increase in global GDP - almost $7T. This would lift productivity rates by 1.5% over the following 10 years.<\/p>\n\n\n\n
\u00a0\u201cAlthough the impact of AI on the labor market is likely to be significant, most jobs and industries are only partially exposed to automation and are thus more likely to be complemented rather than substituted by AI<\/em>.<\/p>\n\n\n\n
Generative AI can streamline business workflows, automate routine tasks and give rise to a new generation of business applications.\u201d<\/em><\/p>\n\n\n\n
The combination of saving money on labor costs, new job creation, among other factors, may see a boom in economic growth.<\/p>\n\n\n\n
What Industries Will AI Impact The Most?<\/h2>\n\n\n\n
The report found that AI will significantly affect admin and legal work, replacing 46% and 44% of jobs, respectively. Although jobs such as construction and maintenance may only have 6% and 4% of jobs replaced.<\/p>\n\n\n\n
This is due to the technology-driven side of these jobs, where most work is based around documents that follow a standard format - something artificial intelligence could streamline. On the other hand, physical jobs are very hard to replace due to the tricky nature of actually working with your hands in this field - until robots can work more efficiently than humans in plumbing, formwork, and the such - these fields remain mostly untouched by the boom in artificial intelligence.<\/p>\n","post_title":"AI May Replace 300 Million Jobs; Although Generative AI May Also Boost Labor Productivity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-may-replace-300-million-jobs-although-generative-ai-may-also-boost-labor-productivity","to_ping":"","pinged":"","post_modified":"2023-05-09 11:09:43","post_modified_gmt":"2023-05-09 01:09:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Generative AI May Raise Labor Productivity<\/h2>\n\n\n\n
Despite potentially replacing full-time jobs, generative AI, such as ChatGPT, may drive a 7% increase in global GDP - almost $7T. This would lift productivity rates by 1.5% over the following 10 years.<\/p>\n\n\n\n
\u00a0\u201cAlthough the impact of AI on the labor market is likely to be significant, most jobs and industries are only partially exposed to automation and are thus more likely to be complemented rather than substituted by AI<\/em>.<\/p>\n\n\n\n
Generative AI can streamline business workflows, automate routine tasks and give rise to a new generation of business applications.\u201d<\/em><\/p>\n\n\n\n
The combination of saving money on labor costs, new job creation, among other factors, may see a boom in economic growth.<\/p>\n\n\n\n
What Industries Will AI Impact The Most?<\/h2>\n\n\n\n
The report found that AI will significantly affect admin and legal work, replacing 46% and 44% of jobs, respectively. Although jobs such as construction and maintenance may only have 6% and 4% of jobs replaced.<\/p>\n\n\n\n
This is due to the technology-driven side of these jobs, where most work is based around documents that follow a standard format - something artificial intelligence could streamline. On the other hand, physical jobs are very hard to replace due to the tricky nature of actually working with your hands in this field - until robots can work more efficiently than humans in plumbing, formwork, and the such - these fields remain mostly untouched by the boom in artificial intelligence.<\/p>\n","post_title":"AI May Replace 300 Million Jobs; Although Generative AI May Also Boost Labor Productivity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-may-replace-300-million-jobs-although-generative-ai-may-also-boost-labor-productivity","to_ping":"","pinged":"","post_modified":"2023-05-09 11:09:43","post_modified_gmt":"2023-05-09 01:09:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Goldman Sachs states that \"worker displacement from automation has historically been offset by creation of new jobs.\"<\/em> Such an example is cars, which replaced the jobs of those driving a horse and carriage but made way for streamlined travel along with mechanics, technicians, engineers, and many other jobs relating strictly to the automobile industry.<\/p>\n\n\n\n
Generative AI May Raise Labor Productivity<\/h2>\n\n\n\n
Despite potentially replacing full-time jobs, generative AI, such as ChatGPT, may drive a 7% increase in global GDP - almost $7T. This would lift productivity rates by 1.5% over the following 10 years.<\/p>\n\n\n\n
\u00a0\u201cAlthough the impact of AI on the labor market is likely to be significant, most jobs and industries are only partially exposed to automation and are thus more likely to be complemented rather than substituted by AI<\/em>.<\/p>\n\n\n\n
Generative AI can streamline business workflows, automate routine tasks and give rise to a new generation of business applications.\u201d<\/em><\/p>\n\n\n\n
The combination of saving money on labor costs, new job creation, among other factors, may see a boom in economic growth.<\/p>\n\n\n\n
What Industries Will AI Impact The Most?<\/h2>\n\n\n\n
The report found that AI will significantly affect admin and legal work, replacing 46% and 44% of jobs, respectively. Although jobs such as construction and maintenance may only have 6% and 4% of jobs replaced.<\/p>\n\n\n\n
This is due to the technology-driven side of these jobs, where most work is based around documents that follow a standard format - something artificial intelligence could streamline. On the other hand, physical jobs are very hard to replace due to the tricky nature of actually working with your hands in this field - until robots can work more efficiently than humans in plumbing, formwork, and the such - these fields remain mostly untouched by the boom in artificial intelligence.<\/p>\n","post_title":"AI May Replace 300 Million Jobs; Although Generative AI May Also Boost Labor Productivity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-may-replace-300-million-jobs-although-generative-ai-may-also-boost-labor-productivity","to_ping":"","pinged":"","post_modified":"2023-05-09 11:09:43","post_modified_gmt":"2023-05-09 01:09:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The potential impact of AI is very deterministic, though. Unless mass adoption of the technology is achieved, it would remain just another technology used in certain industries.<\/p>\n\n\n\n
Goldman Sachs states that \"worker displacement from automation has historically been offset by creation of new jobs.\"<\/em> Such an example is cars, which replaced the jobs of those driving a horse and carriage but made way for streamlined travel along with mechanics, technicians, engineers, and many other jobs relating strictly to the automobile industry.<\/p>\n\n\n\n
Generative AI May Raise Labor Productivity<\/h2>\n\n\n\n
Despite potentially replacing full-time jobs, generative AI, such as ChatGPT, may drive a 7% increase in global GDP - almost $7T. This would lift productivity rates by 1.5% over the following 10 years.<\/p>\n\n\n\n
\u00a0\u201cAlthough the impact of AI on the labor market is likely to be significant, most jobs and industries are only partially exposed to automation and are thus more likely to be complemented rather than substituted by AI<\/em>.<\/p>\n\n\n\n
Generative AI can streamline business workflows, automate routine tasks and give rise to a new generation of business applications.\u201d<\/em><\/p>\n\n\n\n
The combination of saving money on labor costs, new job creation, among other factors, may see a boom in economic growth.<\/p>\n\n\n\n
What Industries Will AI Impact The Most?<\/h2>\n\n\n\n
The report found that AI will significantly affect admin and legal work, replacing 46% and 44% of jobs, respectively. Although jobs such as construction and maintenance may only have 6% and 4% of jobs replaced.<\/p>\n\n\n\n
This is due to the technology-driven side of these jobs, where most work is based around documents that follow a standard format - something artificial intelligence could streamline. On the other hand, physical jobs are very hard to replace due to the tricky nature of actually working with your hands in this field - until robots can work more efficiently than humans in plumbing, formwork, and the such - these fields remain mostly untouched by the boom in artificial intelligence.<\/p>\n","post_title":"AI May Replace 300 Million Jobs; Although Generative AI May Also Boost Labor Productivity","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"ai-may-replace-300-million-jobs-although-generative-ai-may-also-boost-labor-productivity","to_ping":"","pinged":"","post_modified":"2023-05-09 11:09:43","post_modified_gmt":"2023-05-09 01:09:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=11560","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
In other economic news, initial jobless claims in the US increased to 230,000 for the week ending September 7, up from a revised 228,000 the previous week. This was higher than the 227,000 decrease that analysts had expected, according to a Bloomberg survey.<\/p>\n","post_title":"The US Producer Price Index Rises 0.2% In August","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-us-producer-price-index-rises-0-2-in-august","to_ping":"","pinged":"","post_modified":"2024-09-14 20:53:05","post_modified_gmt":"2024-09-14 10:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18657","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11560,"post_author":"12","post_date":"2023-05-07 23:02:04","post_date_gmt":"2023-05-07 13:02:04","post_content":"\n
In the weeks ahead, the Federal Reserve's policy decisions will be crucial for investors but corporate performance for Q3 will also set the tone for investor sentiment. Strong earnings could fuel optimism, while disappointing results might dampen enthusiasm.<\/p>\n\n\n\n
In other economic news, initial jobless claims in the US increased to 230,000 for the week ending September 7, up from a revised 228,000 the previous week. This was higher than the 227,000 decrease that analysts had expected, according to a Bloomberg survey.<\/p>\n","post_title":"The US Producer Price Index Rises 0.2% In August","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-us-producer-price-index-rises-0-2-in-august","to_ping":"","pinged":"","post_modified":"2024-09-14 20:53:05","post_modified_gmt":"2024-09-14 10:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18657","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11560,"post_author":"12","post_date":"2023-05-07 23:02:04","post_date_gmt":"2023-05-07 13:02:04","post_content":"\n
The Federal Open Market Committee is set to announce its policy decision on September 18 but as of Thursday afternoon, the chance of a 50 basis point interest rate cut plummeted to 13%, down from 40% just a week ago, according to the CME Group's FedWatch Tool. Meanwhile, the probability of a 25 basis point cut has risen to 87%, up from 60% a week prior.<\/p>\n\n\n\n
In the weeks ahead, the Federal Reserve's policy decisions will be crucial for investors but corporate performance for Q3 will also set the tone for investor sentiment. Strong earnings could fuel optimism, while disappointing results might dampen enthusiasm.<\/p>\n\n\n\n
In other economic news, initial jobless claims in the US increased to 230,000 for the week ending September 7, up from a revised 228,000 the previous week. This was higher than the 227,000 decrease that analysts had expected, according to a Bloomberg survey.<\/p>\n","post_title":"The US Producer Price Index Rises 0.2% In August","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-us-producer-price-index-rises-0-2-in-august","to_ping":"","pinged":"","post_modified":"2024-09-14 20:53:05","post_modified_gmt":"2024-09-14 10:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18657","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11560,"post_author":"12","post_date":"2023-05-07 23:02:04","post_date_gmt":"2023-05-07 13:02:04","post_content":"\n
Federal Open Market Committee Policy <\/h2>\n\n\n\n
The Federal Open Market Committee is set to announce its policy decision on September 18 but as of Thursday afternoon, the chance of a 50 basis point interest rate cut plummeted to 13%, down from 40% just a week ago, according to the CME Group's FedWatch Tool. Meanwhile, the probability of a 25 basis point cut has risen to 87%, up from 60% a week prior.<\/p>\n\n\n\n
In the weeks ahead, the Federal Reserve's policy decisions will be crucial for investors but corporate performance for Q3 will also set the tone for investor sentiment. Strong earnings could fuel optimism, while disappointing results might dampen enthusiasm.<\/p>\n\n\n\n
In other economic news, initial jobless claims in the US increased to 230,000 for the week ending September 7, up from a revised 228,000 the previous week. This was higher than the 227,000 decrease that analysts had expected, according to a Bloomberg survey.<\/p>\n","post_title":"The US Producer Price Index Rises 0.2% In August","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"the-us-producer-price-index-rises-0-2-in-august","to_ping":"","pinged":"","post_modified":"2024-09-14 20:53:05","post_modified_gmt":"2024-09-14 10:53:05","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=18657","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":11560,"post_author":"12","post_date":"2023-05-07 23:02:04","post_date_gmt":"2023-05-07 13:02:04","post_content":"\n
\"While continuing a disinflationary trend and supporting the Fed's intentions to open the door to rate cuts in less than one week's time, the ongoing uncertainty and unevenness in price growth reinforces the need for a slow and tempered approach to policy adjustment as the data continue to evolve.\"<\/em><\/p>\n\n\n\n
The hotter-than-expected read on the PPI coupled with Wednesday's hotter read on the core CPI, thanks to a larger increase in shelter and airline fares, underscores the Federal Open Market Committee's lingering focus on inflation, according to a research company Stifel note Thursday. Stifel Chief Economist Lindsey Piegza said<\/a> in the note:<\/p>\n\n\n\n
On a yearly basis, the Producer Price Index (PPI) rose by 1.7% in August, down from 2.1% in July. However, when excluding just food and energy, the PPI ticked up slightly to 2.4% from 2.3%. Meanwhile, the PPI excluding food, energy, and trade services saw a modest increase to 3.3%, up from 3.2%.<\/p>\n\n\n\n
The hotter-than-expected read on the PPI coupled with Wednesday's hotter read on the core CPI, thanks to a larger increase in shelter and airline fares, underscores the Federal Open Market Committee's lingering focus on inflation, according to a research company Stifel note Thursday. Stifel Chief Economist Lindsey Piegza said<\/a> in the note:<\/p>\n\n\n\n
The US Producer Price Index (PPI) increased by 0.2% in August, according to the Bureau of Labor Statistics. This rise follows a flat reading in July and outpaced the 0.1% gain that Bloomberg\u2019s survey had predicted. It is also important to mention that excluding food and energy prices, the core PPI climbed 0.3%, above the 0.2% gain expected and a 0.2% decline in the previous month.<\/p>\n\n\n\n
On a yearly basis, the Producer Price Index (PPI) rose by 1.7% in August, down from 2.1% in July. However, when excluding just food and energy, the PPI ticked up slightly to 2.4% from 2.3%. Meanwhile, the PPI excluding food, energy, and trade services saw a modest increase to 3.3%, up from 3.2%.<\/p>\n\n\n\n
The hotter-than-expected read on the PPI coupled with Wednesday's hotter read on the core CPI, thanks to a larger increase in shelter and airline fares, underscores the Federal Open Market Committee's lingering focus on inflation, according to a research company Stifel note Thursday. Stifel Chief Economist Lindsey Piegza said<\/a> in the note:<\/p>\n\n\n\n
