ChatGPT is humanity's way to a 4-day work week

15.04.2023 0 By NS.Writer

Nobel Laureate Chris Pissarides believes that AI such as ChatGPT does not put people at risk of losing their jobs. On the contrary, humanity quickly adapts to its capabilities, which will allow to increase labor efficiency and even globally switch to a 4-day work week. This is reported by Bloomberg ain.ua.

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Christopher Pissarides is a professor at the London School of Economics, specializing in the impact of automation on work. He received the Nobel Prize in Economics for his work in the field of researching problems in the labor market and, in particular, the impact of automation on workplaces.

"I am very optimistic. We could improve productivity and our overall well-being and spend more time relaxing. We could easily go to a four-day week," he told a conference in Glasgow.

Pissarides noted that technology can of course be used in silly ways, such as for surveillance or invasion of privacy. But at the same time, they can make a big difference to productivity if used correctly.

"They can take over a lot of the boring stuff we do at work, leaving people with only the interesting tasks," he said.

His view intersects with the findings of Goldman Sachs, which reports that 300 million jobs worldwide will be affected by generative AI such as ChatGPT. The bank's economists argued that this could affect productivity and lead to GDP growth that has slowed due to the global economic crisis.

“The combination of significant labor cost savings, new job creation and increased productivity for displaced workers raises the possibility of a productivity boom that will significantly boost economic growth. We estimate that artificial intelligence could eventually increase annual global GDP by 7%,” the report notes.

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