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How will ChatGPT affect the U.S. labor market in 2024 and beyond? The explosively popular generative AI chatbot was launched about 14 months ago (in November 2022). Below, I stand on the shoulders of academic research that has empirically assessed ChatGPT’s impact on jobs to answer the key question: Is ChatGPT more labor-displacing or labor-augmenting?
ChatGPT as a GPT (General Purpose Technology)
If you polled most economists in October 2022 and asked what GPT stands for, the most common answer would be “General Purpose Technology” (GPT). Examples of such economic GPTs include the steam engine, electricity, and the computer. Economic
