Productivity and Wages: What Was the Productivity–Wage Link in the Digital Revolution of the Past, and What Might Occur in the AI Revolution of the Future?
Por um escritor misterioso
Last updated 20 setembro 2024
Wages have been spreading out across workers over time – or in other words, the 90th/50th wage ratio has risen over time. A key question is, has the productivity distribution also spread out across worker skill levels over time? Using our calculations of productivity by skill level for the United States, we show that the distributions of both wages and productivity have spread out over time, as the right tail lengthens for both. We add Organization for Economic Co-Operation and Development (OECD) countries, showing that the wage–productivity correlation exists, such that gains in aggregate productivity, or GDP per person, have resulted in higher wages for workers at the top and bottom of the wage distribution. However, across countries, those workers in the upper-income ranks have seen their wages rise the most over time. The most likely international factor explaining these wage increases is the skill-biased technological change of the digital revolution. The new artificial intelligence (AI) revolution that has just begun seems to be having similar skill-biased effects on wages. But this current AI, called “supervised learning,” is relatively similar to past technological change. The AI of the distant future will be “unsupervised learning,” and it could eventually have an effect on the jobs of the most highly skilled.
The Impact of Artificial Intelligence - Widespread Job Losses
Will AI Cause Wage Stagnation or Growth?
IZA World of Labor - How is new technology changing job design?
Wage and Productivity Dispersion in United States Manufacturing: The Role of Computer Investment
Fourth Industrial Revolution: Opportunities, Challenges, and Proposed Policies
Will AI Cause Wage Stagnation or Growth?
The longevity economy - The Lancet Healthy Longevity
Industry 4.0 and the digital workplace revolution - Baker Tilly
The A.I. Revolution Will Change Work. Nobody Agrees How. - The New York Times
Artificial intelligence and unemployment in high-tech developed countries: New insights from dynamic panel data model - ScienceDirect
Artificial intelligence and income inequality: Do technological changes and worker's position matter? - Goyal - 2020 - Journal of Public Affairs - Wiley Online Library
Exploring How AI Will Impact the Economy
Increasing Productivity and Boosting Wages: Is Innovation the Answer?
Survey XII: What Is the Future of Ethical AI Design?, Imagining the Internet
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