New research seems to show that generative AI chatbots like ChatGPT have had almost no significant impact on jobs or wages so far. Economists Anders Humlum and Emilie Vestergaard analyzed data from 11 occupations across 25,000 workers in Denmark, according to The Register. Despite rapid adoption of AI tools, users reported average time savings of … Read more
Website owners are experiencing dramatic traffic losses following Google’s introduction of AI Overviews, according to an investigation by Davey Alba and Julia Love of Bloomberg. The report, based on interviews with 25 publishers, reveals that many independent websites have seen traffic plummet by up to 70% since March 2024, disrupting the long-standing relationship between content … Read more
Artificial intelligence could lead to widespread job displacement, especially if an economic downturn occurs in 2025. According to Gary Grossman, EVP of technology practice at Edelman, while current AI-related job losses appear minimal, the pattern may follow a “gradually, then suddenly” trajectory. Grossman points to data showing that 40% of employers anticipate reducing their workforce … Read more
In a comprehensive analysis for Bloomberg, Azeem Azhar explores how artificial intelligence is fundamentally changing our economic model by making expertise abundant and affordable. Azhar, who writes the Exponential View newsletter, argues that AI is the next major step in the historical progression of lowering intelligence costs, following innovations like the printing press and the … Read more
A new World Economic Forum survey reveals that 41% of employers worldwide expect to reduce their workforce due to AI automation by 2030. According to Matt Novak’s report, the study included 1,000 employers representing over 14 million workers across 22 industries. While employers anticipate staff reductions, they also predict a net job growth, with 170 … Read more
Anthropic has released a comprehensive analysis showing how AI is being used across different occupations and tasks in the modern workforce. The study, based on millions of anonymized conversations with their AI assistant Claude, found that AI usage is currently highest in software development and technical writing. According to the research, about 36% of occupations … Read more
A new analysis from Bloomberg reveals that despite massive market valuations and widespread adoption of artificial intelligence technology, concrete evidence of AI-driven productivity improvements remains limited. The article examines the disconnect between AI market enthusiasm and real economic impact. While companies like Nvidia have seen dramatic market capitalizations, overall US worker productivity has grown at … Read more
Meta is set to dramatically increase its AI infrastructure spending to between $60 billion and $65 billion, according to CEO Mark Zuckerberg. As reported by Meghan Bobrowsky in The Wall Street Journal, this represents a roughly 70% increase over 2024 expenditure levels. The announcement comes shortly after competing tech companies unveiled the $500 billion Stargate … Read more
Consumer spending on AI apps hit $1.1 billion in 2024, marking a 200% increase from the previous year. According to a “State of Mobile” report by Sensor Tower, as reported by Sarah Perez for TechCrunch, users spent approximately 7.7 billion hours using AI applications. The surge was led by apps like ChatGPT, which reached 50 … Read more
OpenAI, along with SoftBank, Oracle, and MGX, has announced “The Stargate Project,” a planned $500 billion investment over four years to build AI infrastructure in the United States. The initiative, unveiled at the White House, includes an immediate deployment of $100 billion, with SoftBank taking financial responsibility and OpenAI handling operations under the chairmanship of … Read more