The real impact of AI on labor markets

The real impact of AI on labor markets

Monday, 31 July 2023

Funcas Europe

Hello Future is blue readers,

Welcome to our newsletter about European economic affairs bringing together top experts from academia and think tanks to discuss the most pressing economic challenges of today. Future is Blue is promoted by Funcas. 

Is artificial intelligence (AI) reallyso different to other technological developments? Should we expect a real tsunami when we look at the effects that this technology will have on labor markets?

There has been a heated debate on these key issues, and in Future is Blue we wanted to look at what available evidence says. 

Indeed, while AI has the potential to create new opportunities and increase productivity, it also raises real concerns about job displacement and changing workforce dynamics. 

To cover this subject we have been joined by Maria Jepsen, Deputy Director at Eurofound, the European Foundation for the improvement of Living and Working Conditions. Maria is featured in our new podcast episode, in conversation with our host, Carlos Carnicero Urabayen.

In a forthcoming podcast episode, we will be looking at the impact that AI is having on the financial sector. You will hear more about that soon.

See at the bottom our recommended readings for this week.

New podcast episode available!

In today's Future is Blue podcast episode, we cover the following questions about the impact of AI on labor markets:

  • To what extent is AI particularly disruptive in comparison with the pre-AI wave of digital technology?
  • The pessimistic predictions of a decade ago regarding job losses arising from digital technologies have not materialized. Should we expect a similar pattern when it comes to the employment and labour impact of AI?
  • Will AI aggravate income inequalities?
  • What is the role of public policies in boosting the benefits of AI for jobs and reduce risks, and what role should the EU play?

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What we are reading

Adapting the European Union AI Act to deal with generative artificial intelligence
The European Union’s draft AI Act already needs to be revised to account for the opportunities and harms of generative AI.

2023's top risks 6 months on - according to Chief Risk Officers
In the World Economic Forum’s first Global Risk Officers Outlook, chief risk officers (CROs) have identified the biggest risks to organizations.

What’s wrong with tech giants riding the AI wave
It is dysfunctional for the same companies to dominate another innovation surge.

Eurozone returns to growth in second quarter as inflation falls
Price pressures fell to 5.3 per cent in July but core inflation remained unchanged

Have a nice week

Raymond Torres
Funcas Europe Director


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