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European Central Bank study finds AI is not a threat to jobs

ALSO: Price wars and allegations

Author

Zain Kahn
November 28, 2023

Read time: 2.5 minutes

Welcome back, Superhuman

Rumors of AI replacing our jobs may be greatly exaggerated. At least that’s what the European Central Bank thinks. A new study from the ECB looks at AI’s impact on jobs in 16 European countries and finds mostly positive evidence.

TODAY’S MENU

  • European Central Bank study finds AI may not be a threat to jobs

  • Infographic: AI jobs on the rise

  • Stats of the Week: The numbers behind top AI tools

  • Tutorial: Transcribe and summarize YouTube videos

  • Research: Ghostbuster detects text written by AI

  • AI Generated Images: Marble statue of a philosopher

TODAY IN AI & TECH

Source: Google

  • Handy: Google Meet can now detect when you raise your hand during a meeting thanks to AI.

  • Generational Gap: 79% of British teens have used generative AI, compared to only 31% of adults, according to a new study.

  • Price War: OpenAI competitor Anthropic cuts prices amid stiff competition.

  • Multilingual: AWS announced new AI-powered features for its transcription platform.

  • Yikes: Chinese AI company SenseTime’s stock price fell almost 10% after accusations of inflated revenue.

AI AT WORK

AI is not a threat to jobs, European Central Bank study of 16 countries finds

A new study from the European Central Bank that examined the link between AI-enabled technologies and employment shares across 16 European countries found that claims of AI replacing human jobs may be greatly exaggerated.

Key findings from the study:

  • Contrary to popular beliefs about AI replacement, use of AI was linked to a small increase in employment rates.

  • These findings even held true for jobs that were perceived as highly exposed to AI-enabled automation.

  • The correlations observed were especially beneficial to high-skill occupations and young workers.

  • While wages in general were not negatively impacted by AI, jobs that were deemed highly exposed to AI did experience some negative wage growth.

However, one caveat in the study is that it was conducted between 2011-2019. While that period saw significant AI breakthroughs like large language models, many AI-powered tools like ChatGPT had not yet made it to the workforce.

Major global economies like Germany, France and the UK were examined as part of the study.

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INFOGRAPHIC

AI jobs on the rise

Source: The Economist, PredictLeads

STATS OF THE WEEK

The numbers behind the top 50 AI tools

  • 24 Billion The number of online visits generated by the top 50 AI tools in 1 year

  • 14 Billion The number of visits generated by ChatGPT alone during that period

  • 5.5 Billion The number of visits generated by the US, followed by India (2.1 billion) and Indonesia (1.4 billion)

5 AI Tools to Supercharge Your Productivity

Mojju: A library of unique and powerful GPTs to integrate with Zapier, Google, and more.

Spiritme: AI-video platform for creating personalized videos with digital avatars.

Secureframe: Automate entire compliance processes, improve security and reduce risk, end-to-end using AI.

Walles AI: Get instant insights and answers from any site/PDF in browser.

JazzUp: Provides you with data-driven e-commerce customer segmentation and targeting for your business.

TOGETHER WITH SECTION

Free event: Predictions 2024 with Scott Galloway

Join Scott Galloway’s annual Predictions event, where he’ll share unfiltered predictions on AI, business, and more. RSVP here →

TUTORIAL

Transcribe and summarize YouTube videos with Google Bard

Google recently launched AI for YouTube which lets you talk to any YouTube video. Here’s how you can use it:

  • Go to the Google Bard website

  • Copy paste a YouTube link and get started

  • Now enter a prompt like:

“Summarise this YouTube video: [insert video link here]”

or 

"Transcribe this YouTube video"

or 

“Explain what is happening in the video from 1:00 onwards. [insert video link here]”

RESEARCH

Ghostbuster: Detecting text ghostwritten by LLMs

Berkeley AI Research (BAIR) recently announced "Ghostbuster," a cutting-edge tool for identifying AI-generated text. This program is designed to tackle concerns about students using LLMs like ChatGPT for writing assignments.

Existing detection techniques frequently struggle with varied text types and can mistake human writing for AI-generated writing. Ghostbuster works by assessing the probability that each token in a text was created by a weaker language model, then using these probabilities to choose features and train a linear classifier.

Ghostbuster has outperformed other existing detection algorithms in recognizing AI-generated text across a wide range of areas. It's also resistant to many prompt modifications and text generating models. The research is important for preserving academic integrity, verifying the validity of digital output, and limiting the risks connected with the exploitation of AI in text generation.

AI GENERATED IMAGES

Marble statue of a philosopher

source: .vivi_xoxo

prompt: A classic marble statue of a philosopher with a thoughtful expression, representing credibility. He is typing on a computer.

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