TL;DR:
- Millennials are deeply concerned about the impact of AI on their job and pay prospects.
- A survey conducted by Checkr reveals that 82% of millennial workers fear lower pay due to AI, compared to 78% of all respondents.
- Millennials face a unique dilemma as they have several more decades of employment ahead, making them susceptible to potential widespread changes brought about by AI.
- Checkr’s survey, based on 3,000 US employees from different generations, highlights the current worries and shows how AI is already affecting industries like media, marketing, and restaurants.
- Interestingly, millennials are willing to invest their own money to acquire AI knowledge and skills to avoid being replaced.
- The fear and uncertainty surrounding the impact of AI on jobs echo historical patterns of technological disruption.
- CEO Sam Altman of OpenAI suggests that while jobs will be affected, there will also be new and improved job opportunities on the other side of the AI revolution.
Main AI News:
Investors are eagerly anticipating the dawn of the artificial intelligence revolution, but amidst this excitement lies a palpable sense of unease among many workers. The rapid advancement of AI technology has cast a shadow of uncertainty over the future of their careers, and it is the millennial generation that finds itself particularly anxious in this regard.
A recent survey conducted by HR platform Checkr sheds light on millennials’ concerns about the impact of AI on their job prospects and wages. An overwhelming 82% of millennial workers expressed apprehension that AI would result in diminished pay for the same positions they currently hold. This figure surpasses the already significant 78% of respondents from all age groups who share this worry.
Checkr’s Head of Digital Content, Sara Korolevich, underscores the predicament faced by millennials, stating, “The data shows that Millennials are stuck between a rock and a hard place. While Gen Z is considered digitally native, and Boomers and Gen X are beginning to leave the workforce, even the oldest Millennials still have at least another 20 years of employment in front of them, leaving them vulnerable to the potentially widespread changes this technology could bring about.“
The survey, part of Checkr’s comprehensive report titled “Insights from American Workers,” drew insights from 3,000 employees across four generations in the United States. Conducted over a two-day period, from April 27 to April 28 of this year, the study highlights the growing concerns surrounding AI’s encroachment on various industries, such as media, marketing, and restaurants, where jobs are already being threatened.
Furthermore, Checkr’s data reveals an intriguing willingness among millennials to invest their own finances in acquiring AI expertise to safeguard their positions. A striking 77% of the surveyed millennials expressed readiness to make personal financial investments to enhance their AI knowledge and skills. In this regard, their anxiety stands out prominently.
Sara Korolevich remarks on the historical context of technological disruption and change, drawing parallels to the present anxieties surrounding generative AI and language models. She emphasizes that such concerns are to be expected, but the magnitude of the fear expressed by American workers is indeed staggering.
Sam Altman, the CEO of OpenAI, the company behind ChatGPT, appeared before the Senate Judiciary Committee to share his insights on the impact of AI on jobs. Altman acknowledges the significant influence that AI will have on employment, yet he also admits the challenge of accurately predicting the specific nature of this impact. Reflecting on past technological revolutions, Altman states, “If we went back to the other side of a previous technological revolution, talking about the jobs that exist on the other side, you know, you can go back and read books of this. It’s what people said at the time. It’s difficult.”
Nonetheless, Altman remains optimistic, asserting that there will be an abundance of new and superior job opportunities arising from the advancements in AI. He believes that the jobs of today will evolve and improve, paving the way for an even brighter future.
While the effects of AI on the job market remain uncertain, it is evident that millennials bear the weight of concern as they navigate an uncertain professional landscape. As the business world grapples with the challenges and opportunities presented by AI, the hope remains that this technological revolution will ultimately lead to greater employment prospects and advancements in the workplace.
Conlcusion:
The findings indicate that millennials are particularly concerned about the implications of AI on their careers and income. This poses challenges for the job market, as a significant portion of the workforce anticipates potential pay reductions due to AI technology. However, there is also an opportunity for growth and advancement, as millennials show a willingness to invest in enhancing their AI skills. Businesses and industries must take note of these concerns and consider strategies to address them, such as providing training and upskilling opportunities to mitigate fears and create a workforce capable of thriving in an AI-driven future.
