AI Chatbots' Surprisingly Minimal Impact on the Labor Market

A recent study in Denmark examining 25,000 workers across 11 occupations reveals that AI chatbots like ChatGPT have had a negligible impact on wages and employment. Despite many professions (accountants, journalists, software developers, etc.) being considered vulnerable to AI disruption, the research shows chatbot adoption hasn't significantly altered worker earnings or hours. While company investment in AI boosted tool adoption, saving users 64-90% of their time, the impact on work quality and satisfaction was mixed. AI created new tasks, offsetting some time savings; for instance, teachers now spend time detecting AI-generated cheating. Researchers attribute lower-than-expected economic gains to the fact that not all tasks are fully automatable and businesses are still figuring out how best to leverage these tools. Only a small portion of productivity gains translate into higher worker earnings. The study suggests that claims of transformative AI impact need to account for the minimal real-world economic effect seen two years after chatbot introduction.