As the world continues to witness the rapid advancements in AI technologies, the possibility of a four-day working week seems closer than ever. While many people might welcome the idea of working fewer hours, the impact of such a change on the economy and the job market is yet to be seen.
According to experts, the rapid advancements in AI technologies, such as ChatGPT, are predicted to transform white-collar professions in the near future. These AI-powered chatbots are already impressively human-like in their conversational abilities and will soon be able to perform a wide range of tasks across various industries.
At a conference in Scotland, Nobel Prize-winning labor economist, Christopher Pissarides, suggested that instead of leading to mass layoffs, AI technologies could result in a shorter working week.
Pissarides believes that AI tools could handle mundane tasks, freeing human workers to focus on more interesting work and leading to an increase in productivity and well-being. He believes that a four-day week could be easily implemented as a result.
Less work, less payment
However, there are still uncertainties surrounding such a change. For instance, a shorter working week may result in a pay cut for those working fewer hours, and companies may gradually reduce their workforce as AI technology takes on more tasks.
A recent report from Goldman Sachs predicts that up to 300 million jobs, mainly white-collar, could be lost or impacted by AI technology. However, the report suggests that the technology will also create new jobs and boost economic productivity as tasks are carried out more efficiently.
While it is clear that big changes are on the horizon, it is still too early to predict how significantly AI technologies will affect the workplace.
One thing is certain, the impact of AI on the workplace is a topic that requires more discussion and investigation. It is up to policymakers, businesses, and workers to explore the possibilities and challenges presented by AI technologies and ensure that the future of work is one that is fair and inclusive for all.
Check out our writing on AI whisperer jobs, aka prompt engineers, if you wish to be prepared to work life after AI technologies develop even more.
As we continue to embrace the potential of AI, we must also consider its impact on our society and strive to find solutions that benefit us all.