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The trend:The debut of generative AI made attendees at the World Economic Forum in Davos nervous about the future of white-collar jobs and the rise of misinformation.
AI can now process a mortgage application in minutes compared with the previous 30 days, according to Automation Anywhere CEO Mihir Shukla, per The Guardian.
Microsoft laid off 10,000 employees, including all of its VR, mixed reality, and HoloLens workers, as it was planning a $10 billion investment in OpenAI.
The overall US job market is strong for now, but if a recession hits, the fear faced by blue-collar workers for decades—that machines will replace them—will be more acutely shared by their white-collar counterparts.
The main takeaways:ChatGPT is sending shockwaves around the world, but in its current state, it’s only suitable for augmenting human creativity, not replacing it.
In the short term, human creativity will continue to be essential to the economy.
AI is trained using intellectual assets created by people, so in theory, if people stop creating, AI will run out of fresh source data.
People’s need to connect with other people and express themselves is in itself an economic driver and is what fuels a lot of the branding behind digital content that AI can’t easily substitute.
This article originally appeared in Insider Intelligence's Connectivity & Tech Briefing—a daily recap of top stories reshaping thetechnologyindustry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.