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Will AI take jobs away from millennials?

Yahoo Finance tech reporter Allie Garfinkle joins the Live Show to discuss how AI will impact the job market for millennials amid an economic slowdown.

Video Transcript

AKIKO FUJITA: All right, the popularity of generative AI programs like ChatGPT grow, so do worries about how they will affect our jobs. Yahoo Finance reporter Allie Garfinkle is here with a survey on workers' concerns. Allie, feel like every other day, we're talking about the fear around AI. What does this particular survey say?

ALLIE GARFINKLE: So Americans are absolutely worried that AI is going to affect their jobs. Anecdotally, Akiko, you said it, this is something that we knew. However, we're really starting to have some data here. A recent survey from Checkr has kind of revealed some color on what these hopes and fears really look like. And I actually love to start with something that has a little bit of a ring of optimism.

57% of respondents saying, they would take a pay cut in exchange for an AI-enabled four-day workweek. Now, to me that actually, I say optimism because to me that sounds pretty good. That sounds like something where people are convinced that automation is really going to have a positive effect on their working lives. Give them back some time.

However, from here, the data really takes a turn, especially as concerns millennials. For instance, 77% of millennials saying, they would spend their own money to enhance their AI knowledge to avoid being replaced at work. And that even goes a step further, with 78% of respondents in total and 82% of millennials worrying that AI tools will affect how much they are paid.

I'd love to sit here and say, as a millennial, I don't worry about this. That would be untrue. It also would be untrue to say that some of these concerns are unwarranted. The reality is that people who know the most about AI, the people who most about know about tech are saying that jobs will absolutely be affected by the AI revolution.

In fact, when OpenAI CEO Sam Altman was testifying before Congress just this month, he spoke about how he believes AI will affect jobs.

SAM ALTMAN: I believe that there will be far greater jobs on the other side of this and that the jobs of today will get better. Now GPT-4 will, I think, entirely automate away some jobs. And it will create new ones that we believe will be much better.

ALLIE GARFINKLE: I don't know what you took away from that. But what I heard was in translation, before AI is a job creator, it will be a job taker.

AKIKO FUJITA: OK, Allie Garfinkle with the very latest there. Thanks so much for that.

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