ChatGPT Allows for a Four-Day Workweek

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According to Christopher Pissarides, a professor at the London School of Economics, the labor market can adapt sufficiently quickly to AI-powered chatbots

ChatGPT Allows for a Four-Day Workweek, According to Nobel Prize Winner

According to a Nobel Prize-winning labor economist, the ChatGPT rebellion opens the door to a four-day week by substantially improving productivity for a wide range of jobs.

According to Christopher Pissarides, a London School of Economics instructor who focuses in the impact of robotics on work, the labor market can adjust to AI-powered chatbots quickly enough.

The comment he made allayed fears that rapid technological advances would result in mass job losses

“I’m extremely confident that we can increase transform,”

he told the gathering in Glasgow. “We could improve our general well-being at work and take more leisure time.”

We could easily switch to a four-day transform.”

Chatbots like OpenAI’s ChatGPT and Google’s Bard have been heralded as potentially transformative technologies that could boost productivity while also exposing a billion of white collar jobs.

Through the transformation Review into the Future of Work and well-being, Pissarides previously looked into the impact of automation on jobs. He received the Nobel Prize in Business for his research on labor market frictions.

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Pissarides explanation

According to Pissarides, technology could still be used for illicit activities such as surveillance or assault of privacy. However, he thinks it has the potential to make a “significant difference” in efficiency if used correctly.

He said, “They could take away a lot of the boring things we accomplish at work… and subsequently leave only what’s fascinating to humans,”

he explained. Despite the fact that technology is “moving fast,”

he believes that slower adoption by businesses will make moving easier for workers.

Some are concerned about the impact of technology on the community. Last month, Elon Musk and other technological luminaries signed an open letter calling for a halt to the instruction of powerful AI systems.

“There really is no limit to the amount of work people can produce if it truly wants to work,” Pissarides explained.

“It will take time to have a real impact, and people will adjust during that time.” What you really need in this transition is upskilling.”

Economists at the bank also argued

His remarks follow a Goldman Sachs indicate estimating that artificial intelligence, such as ChatGPT, could affect 300 million jobs worldwide. Economists at the bank also argued that it could have a transformative impact on productivity and GDP growth.

Since the financial crisis, developed economies’ improvements in productivity have shifted downward, significantly slowing GDP growth.

“The combination of significant labor cost savings, new job creation, and higher productivity for transformation-displaced employees raises the chances of an efficiency explode that substantially boosts financial growth,” Goldman Sachs analysts wrote in a provide last month. “We estimate that machine learning will eventually increase annual global GDP by 7%.”