Ep 43: Will AI Actually Take Our Jobs?


Episode Categories:


Jordan [00:00:16]:

Will AI take our jobs. It's kind of the big question in the room that we haven't really answered. But that's one of the things that we're going to be talking about today on Everyday AI. This is your Daily Livestream podcast and newsletter, helping everyday people like you and me not just keep up with what's going on in the world of AI, but how we can actually use it and improve our jobs and improve our careers. So before we get into that big elephant in the room question, let's first run over the news of the day, something we do every day. And as a reminder, if you are tuning in live, please leave a comment, drop a question. If you are catching this on the podcast, Apple Spotify, whatever it may be, look in the show notes. You can always go back.

New Marvel show goes full AI

Jordan [00:01:02]:

We're going to link to a conversation where you can jump in and ask questions and kind of go through this with everyone else. This is going to be a hot take episode. Normally I don't have those, but we're coming out swinging this morning. But before we do, let's talk about what's happening in AI news. So first kind of big news story of the day is Secret Invasion has gone full AI. So what does that mean? So Secret Invasion is a new Marvel series that was just released about a day ago and the opening credits are generated by AI and that's been receiving some backlash online. So as a reminder, the Marvel director Joe Russo has said that he fully expects AI generated movies to be mainstream within two years. My take on that is that's crazy.

We'll see if it happens. Right now. Kind of text to video generation isn't that great, but it's getting there. So this is kind of maybe one of the first mainstream instances of this technology that many people have seen.

Generative AI is a new cybersecurity threat

Next kind of news story for today is a new Venture Beat article talking about that generative AI is a brand new security threat. It is a whole new classification of security threat when it comes to cybersecurity. So we talk about generative AI a lot on this show. But if you're new, generative AI is essentially text to anything.

So Chat GPT is generative AI, which it's text to text. There's text to image, text to video, text to music. So that's what generative AI is. And obviously right now it's creating a lot of cybersecurity and privacy concerns. So make sure to subscribe to our daily newsletter and we're going to be sharing more about that Venture Beat story.

Tech stock boom around AI

Third, last but not least, and this is actually going to be transitioning into kind of the topic for today is a new Wall Street Journal article is discussing kind of this tech stock boom and pitting AI against the Federal Reserve. So it's super interesting. And again, we're going to talk about it a little bit, but at least here in the US.

Jordan [00:03:12]:

A lot of the reason our economy has been somewhat recovering over the past year or so is partially fueled by AI and AI related stocks. So if you want to know more about those things or we have a lot of other news pieces that we're going to be recapping. As a reminder, go to your everydaya.com. Sign up for the free newsletter. We do this every single day. So you can spend countless hours a day trying to keep up with AI news, or you can just tune in every day and talk about it with us. All right, cool. We already have a comment, yaddy saying yes.

Jordan [00:03:50]:

Let's talk about security and generative AI. Yes, it's so important. I think a lot of times people look over this security piece when it comes to generative AI, the ability now within minutes to yes, minutes, and we're going to be sharing about this soon, but within minutes to replicate your voice pretty accurately, to be able to upload video of yourself and to create a clone of yourself. There's so many security concerns, which probably a lot of you have have seen in the news. So with that, let's get into that big elephant in the room.

Will AI take our jobs? Yes.

All right, so let's talk. Will AI. Take our jobs? All right, I'm going to skip to the end and again, I'm going to try to do my best to take all of your comments and questions as we go along.

Jordan [00:04:43]:

But I'm going to skip to the end and I'm going to answer this question, will AI take our jobs? The answer is yes, it will take many jobs. It will be disruptive. So it's something that we don't talk about a lot on the everyday AI show. And there's a couple of reasons for that. One is I really want everyday AI to be a resource that can help people. And you really don't always want to talk about the negative aspects of AI and what that can mean for the economy or your job or your sector. But I think it's important to have a deep conversation about and that's what today is all about. So, as a reminder, drop a comment as we go along.

Jordan [00:05:27]:

I'm going to try to do my best to grab all of your comments. Harvey, thank you for your comment. I'm going to throw that up kind of, kind of later and talk about your comment there.

Goldman Sachs predicts 300 million jobs will be lost to AI

So let's dive into it and talk about will AI take our jobs? So there's a couple of things to consider before we even talk about it, right? We have to set the stage first. So first let's talk about this Goldman Sachs study. So it came out a couple of months ago. This is probably was probably one of the biggest eye opening pieces for a lot of people. This Goldman Sachs study that predicted that 300 million jobs will be lost or degraded by artificial intelligence.

Jordan [00:06:13]:

I'm going to say it again. It's not a misprint. I'm not reading it incorrectly. It is early, but I'm already on my second cup of coffee. 300 million jobs will be lost or degraded by artificial intelligence. Okay? And I do want to remind everyone this is a Goldman Sachs study. This isn't a random group. This is a major name in the world economic system.

Jordan [00:06:45]:

I'd say, right? Everyone knows Goldman Sachs. There's good things and there's bad things you can say about them. But regardless, this is a very eye opening study that they released a couple of months ago, and I think it kind of got everyone to start to pay attention to.

IBM, Microsoft, Facebook Google: Examples of AI and job loss

Okay, let's take this AI thing a little seriously. All right? A couple of other considerations. And if you are joining us live, you'll obviously see I'm sharing my screen. But if not, if you're listening to this on the podcast, I'm just going to do my best to describe what we kind of have on the screen. But right now, we're talking about IBM, Microsoft, Facebook google.

Jordan [00:07:22]:

Right. These are four of the largest companies in the world and four companies that are also really driving just the AI space forward. Okay? So here's some things to consider when we talk about AI and job loss. All right, let's start with IBM. IBM is the company that was most direct about even their own internal complications with AI. So they straight up said that they are not hiring 7800 people and they're letting those jobs be replaced by AI. So almost 8000 jobs. They said these jobs are going to AI.

Jordan [00:08:03]:

And at the same time, I always say, follow the money. They've invested more than $200 billion in AI and AI infrastructure and companies, right? So 8000 jobs going to AI, but investing $200 billion in AI. Microsoft, nothing different. They've invested just in one company alone in OpenAI. So Chat GPT's parent company Microsoft has invested over $13 billion in OpenAI alone, yet they've recently announced more than 10,000 job cuts. Facebook. Facebook has invested more than $30 billion in AI recently, 10,000 layoffs. Google, same thing, more than $30 billion invested in AI.

Jordan [00:08:50]:

12,000 recent layoffs. What does this mean? And I could go on forever on this. The biggest companies in the world that are actually helping create this technology, specifically generative AI and pushing it forward, they're investing tens of billions of dollars, yet they are laying off tens of thousands of employees each. Right? So even if we just look at big tech, it's nearly $200,000 sorry, nearly 200,000 layoffs, recent layoffs, and hundreds of billions invested in AI. So I think a lot of times when people say, no, AI won't take jobs, you have to look at the biggest companies in the world. Some of the companies that have been driving technology and innovation for a decade plus. And you have to follow the money. You have to see what they're doing.

Jordan [00:09:46]:

We're going to talk about reasons why we don't want to talk about AI taking jobs, but we have to look at the very obvious examples right in front of us, right? Goldman Sachs predicting 300 million jobs being lost or degraded. I would think most of those would be degraded because 300 million jobs is an insane amount, right? But still, you look at big tech, IBM, Microsoft, Facebook, Google, investing, right? There investing, that's more than $50 billion invested. And they're all laying employees off in droves, right? Not a couple hundred. They're laying them off thousands at a time, more than 10,000 at a time. So that's very important. All right, so let's keep going. As a reminder, give me your hot takes. I'm always up for a healthy discussion.

OpenAI CEO warns of AI economic shock

Jordan [00:10:32]:

So if you are tuning in live, go ahead and drop me a comment if you think AI is going to be disrupting jobs or if it's going to be helping, but let's keep going. Sam Altman so we're still talking about things to consider here before we dive into the thick of this. So Sam Altman, as many of you know, but some of you maybe don't, he is the CEO of OpenAI. So OpenAI is the parent company of Chat GPT, that that tool that so many of us love and use every day. So a couple of things to point out with Sam Altman that are extremely important, okay? In an interview, he recently said the two biggest concerns that he has with AI are disinformation and economic shock. I've talked about it once or twice on the podcast before. No one's talking. We're all talking about disinformation because we see it every day.

Jordan [00:11:26]:

But no one is talking about the whole economic shock thing. And the fact that Sam Altman, the CEO of and probably, if we're being honest, probably one of the smartest people on the planet in terms of AI and its impact on the economy, is saying that he is worried about economic shock. Okay? And also, I don't know if it's coincidentally, he is one of the leading voices in UBI, which is universal basic income. So let's put those things together, right? This company is taking in tens of billions of dollars of investment. They actually have a small team and they're creating a technology that can, in theory, make it extremely easy for companies large and small to get more done with fewer humans, right? So you really have to add up the writing on the wall, right?

Common reason why people think AI won't take jobs

Okay, so now that we've kind of talked about some of these considerations, let's talk about some of the common reasons why people think AI won't take their jobs, okay? And then we're going to talk about these a little bit. All right, so we have the first one, which is false narratives so this, I think, was very commonplace early on, kind of when generative AI first started to become a thing. You would see all these bad examples and people would say, yeah, AI is not taking my job anytime soon, or any jobs, because people would share these false negative examples of AI gone rogue or AI not doing what it is supposed to. But I'll tell you, as someone that's been using GPT technology since 2020, more times than not it's user error.

Jordan [00:13:10]:

So I would see all these instances and kind of scoff and say, oh, that just means the person on the other side doesn't really know how to use the technology. So that's one reason why people are saying no. Another big one, historical context. Right? Here's the thing. AI in general has been around since the 1950s. Yes, the lot of people say, hey, this technology, AI in general has been around since the 50s. It's been commonplace. Different types of AI and machine learning or deep learning has been commonplace since the late eighty s and the ninety s.

Jordan [00:13:52]:

So people are saying, well, if it hasn't made an impact, then why would it make an impact? Now we're going to talk about that. But one of the biggest reasons is AI in the even the was reserved for kind of people in data science or people in highly technical or highly specific roles. So a lot of early AI was AI that was really designed for one very specific purpose. You could talk about cybersecurity as an example. There's been AI for decades in cybersecurity, but it's always been for one very specific example. Maybe to detect threats sooner, to spot anomalies in a security system, something like that. But generative AI is for everyday people, right? That's for people like you and me that has only been really around for a matter of a year or two. And most people have only really discovered it since chat GPT was released in November.

Jordan [00:14:54]:

But like I mentioned, the GPT technology itself has been out since 2020. All right, so let's talk about another thing that people are saying, hey, AI won't take our jobs because of blank, right? Job creation. That's always a fascinating one. I find this one fascinating. People say, hey, AI is going to create all of these new jobs. They say, sure, AI might take some jobs, but it'll create more. Let me just go ahead and I'm going to put myself out there and say, no, not even close. And we're going to get into why that at least I think, and I think data will support that, that there will not be as much job creation from AI as there is job displacement or even category of job displacement.

Jordan [00:15:54]:

I think it's super interesting to look at. But one example that I like to reference before is you can look at other, I guess, huge innovations throughout recent human history, such as the internet, but let's just say Blockbuster, right? People use this example. They say, well, AI is going to be like what streaming video was. Yes, it'll replace the blockbuster. But then you'll have your Netflix that's created. You'll have your red box that's created you'll have all these different companies that will be created after you kind of phase out or after technology or innovation phases out. Blockbuster definitely not the case. Here's the reason.

Jordan [00:16:38]:

And you're also let me actually mention one other common thing that you hear that goes with job creation. People will say, AI won't take your job, but someone using AI will. You'll see that all the time on social media. And it's a common, I don't know, security blanket that people put out there. But here's the thing. Yes, that person using AI will take your job if you're not using it. But that person using AI could, in theory, also take ten other people's job. That's the thing with AI.

Jordan [00:17:15]:

It is not a one to one job replacement. It's not. Another example is, right before Generative AI came out, I helped manage a team of about 20 writers. This was in 2019. That was before GPD technology came out, right? Now, if we were working on that same project, we would probably only need two people, maybe three. And even at three people, the output of three people using generative AI would far outseed or far exceed what we had with 20 people. So it is not a one to one replacement when you are looking at job creation. All right.

Jordan [00:18:00]:

Oh, gosh, here's a good one. Another reason people say AI is not going to take my job is they say, hey, the government would never allow it. The US government cares too much about US people. Number one, no, number two, I don't think the government is, at least here in the US. Is going to do too much in terms of job, like protecting jobs when it comes to AI. Have a little bit more information about that. But other European countries have been very serious and very adamant about protecting jobs. Right.

Jordan [00:18:41]:

And they're really not even allowing a lot of technology to exist in certain European countries. So that's something that I'm going to talk about later on here in a couple of minutes. But it's something to keep in mind. All right, a comment coming in. Thank you. Jacqueline saying we need to stay ahead of the game and learn as much about it as we can. Absolutely. I think in the coming months, knowing the basics of multiple AI systems will give you job security.

Jordan [00:19:16]:

Right? But I don't think that will do too much with entire industries or categories within industries. That's what it's all about. Harvey saying he agrees with Jacqueline. I do as well. I think that's it's really important. But let's let's dive back into another another reason or two. People think that AI will not take our jobs. Here's a good one.

Jordan [00:19:39]:

Here's a good one, harvey, I saw your comment here, so I'd love to hear another comment from you. So I'll actually quickly explain. Harvey will be a guest on the show next week. He's a frequent commenter here on the show, very excited to hear. But he literally wrote the book on Chat GPT in healthcare. So what does that have to do with empathy? There was a study that came out, this was about a month or two ago. We covered it here on the show. But people always say, hey, technology can't be empathetic, AI can't practice empathy, and at least according to a couple of studies, that's kind of wrong, right? So we think of as humans, what are our does distinct and unique qualities that AI or technology could never replace.

Jordan [00:20:28]:

Empathy is apparently not one of them. So there was a study that looked at in actual clinical setting and I'm sure Harvey will correct me if I'm wrong here, but that there was they looked at how people responded to Chat GPT versus actual doctors and they were really looking at Bedside Manor and kind of how they viewed that relationship between either the information they received from Chat GPT or the information they received from a doctor. And it found that this is wild. People responding in the survey said that they found Chachi BT to be more empathetic than a physician about 80% of the time. That's wild. So for all the people that say AI cannot practice empathy, that's just not correct. If you train an AI or a large language model or a GPT model to be empathetic, it can you have to train it correctly. But this is another thing.

Jordan [00:21:28]:

A lot of people will just jump into chat GPT and they'll throw something out there and they'll get a response that has zero empathy. But you're not training it to be empathetic, right? So if you train in AI to be empathetic, it can't be all right, let's go on to another reason why people say AI will not take jobs. Creativity. They say, oh, as humans, we are the only people that can be creative, and creativity will always have a place in our society. I'd say wrong. So creativity is a skill that can be taught, right? You can give before, during, and after examples of what creativity is, its place in the workplace, or in a sector, or in a department, and then you can teach an AI to be creative. So before you scoff at that, let's even look at the first places that generative AI has been booming. It's been booming in writing, right? Even creative writing in text to image, right? So we've had people on our show before share some of their artwork that they created with just simple text prompts.

Jordan [00:22:47]:

Typing in a twelve word prompt into an AI and having it in seconds generate a beautiful image. I would argue if you can put in text, that creates something extremely creative on the other side, that is an example of AI being creative. So that argument to me, kind of falls on flat ground when people say AI cannot be creative, it is driving creativity. I'd say, and I know from being a small agency owner, some of the largest creative agencies in the world have been using AI since the day it came out in 2020. They don't always tell their clients or tell other people about it, but they're all using it. So this fact that AI cannot be creative, go find someone that works in marketing, find someone that works in advertising, find someone that works at a creative agency. People or roles that we would generally say these are creative roles, and ask them about AI. Get the truth out of them, because they will tell you that AI can definitely be creative.

Jordan [00:23:51]:

Yes, Harvey. Yes. Empathy. We will discuss it next week. Can't wait. So, empathy, creativity. When people say that AI don't exhibit these roles, I'd say you just don't fully understand the technology. All right, I know this is a long one, guys, but we're going to keep going and we're going to wrap it up here.

Jordan [00:24:08]:

So let's talk about why we're fighting off AI in general. And I think one of the biggest thing is pride, kind of hosting this. I think we're on episode 43 of this Daily Livestream and podcast. I've talked to countless people about their thoughts with AI in their industry. And I think this is one of the most common responses that I hear on why people think that AI will not disrupt their industry is they're too prideful. They are. They'll say, oh, AI could never do this in my role. AI could never be a legal assistant, AI could never be a research analyst, AI could never be a help with bookkeeping.

Jordan [00:24:57]:

All of these things, people are prideful, I understand that. But a very small example that I think will lend itself to a broader understanding of this topic is look what Microsoft is doing with its next iteration of Windows. AI will be working in the operating system, right? You're not going to log into Chat GPT. AI will be following you on your computer in a good way, and it'll help you with everyday task. Creating pitch decks just with a prompt reading and responding to your emails, being able to decipher everything in a spreadsheet in a second. Very complex spreadsheets that would normally take maybe dozens of hours to make sense of. So I think you're seeing it right there with Microsoft putting AI in its actual operating system, if anything, is a nod to the fact that AI can do, when properly trained, a wide variety of roles. It doesn't matter, right? It was actually, even for me personally, it was a little weird when I first saw this GPT technology in 2020.

Jordan [00:26:02]:

So, again, Chat GPT didn't come out until about seven months ago. But the GPT technology was rolled out in 2020. And at first I even had a little pride. I said, all right, one of the early tools I used was called Jarvis. Now. It's called Jasper. So at first I was like, all right, this is pretty good, but it's not as good as me. But it's not.

Jordan [00:26:29]:

All of these AI tools that can generate content, they're a better writer than me. I've been getting paid to write for literally 20 years, and it's a better writer than me. So I think one thing of working in a society or in a workplace that will soon be flooded with AI, you have to swallow your pride, which is hard for humans to do. Yes. Harvey with another comment. Bing copilot in Windows will be amazing. That itself will kill tons of startups. Absolutely.

Jordan [00:27:02]:

We actually have someone from Microsoft. Hopefully we can bring on the show here in the coming weeks and talk to them about that. Let's talk about one more thing. And this, I think, is the big one that people get wrong when they say, hey, AI won't come into my sector, AI won't come into legal, AI won't come into accounting and finance, AI won't come into healthcare. I think everyone underestimates greed, right? So, again, my example earlier, which is the smallest example ever, working on a team of 20, right? So let's say someone's working on a team of 100 and you're the CEO of a hundred person company, right? Do you really think that if this AI comes in and once people learn how to use it, that's the big thing is people don't really know how to use it right now? But do you really think that CEOs are going to say, hey, let's look at this AI. We could replace 50% of our workforce and have three x the output. What CEO is going to say no to that? Right? I'd say in America, CEOs are driving a huge divide between kind of the elite and everyone else. And you're probably saying, Jordan, this sounds like some weird kind of personal tangent.

Jordan [00:28:27]:

It's not. So there's actual data here. So let's look. So we have a chart here. I'll describe it. It's easy to see. This is the CEO pay versus what the average worker paid over the course of the last couple of decades. So essentially, in the 70s, your average CEO made about 20 times more than the average worker.

Jordan [00:28:46]:

So what is that today? It's 400 times. Right. So you think when a CEO of a large company figures out how to properly use generative AI and they can see, oh, this team of 100 people, I could have five people using AI and maybe two or three people fact checking and implementing it, you think they're going to keep those other people around? I don't know. Let's look at one more chart and you can tell me. Here's another one this looks at again in the last about 45 years, the average pay of a CEO to the typical workers. So you'll see which is wild. So since 1978, the average worker compensation, which I don't even know how, has only risen 18% 18%. Yet average CEO compensation has gone up 1400%.

Jordan [00:29:52]:

So we're talking 18% versus 1400% increase, right? So that's the biggest thing is greed. Because I don't think most CEOs or even executives have fully understood what AI is yet and how they can implement it. There will be a learning curve. I think a lot of individuals, smaller companies have kind of learned to ride the AI wave or the GPT wave, but I think most bigger companies haven't fully understand or don't fully understand it yet. Aside from those companies we started the show off with, those companies like Facebook, IBM, Microsoft, those companies that are investing tens of billions of dollars into AI technology, yet laying off tens of thousands of employee. Another funny comment here, moral the story is to be a CEO. Another comment here from Cameron saying thanks for the discussion. Personally, very optimistic of the good things that can happen within the AI revolution.

Jordan [00:31:11]:

However, you have to kind of open your eyes and see the incredible improvements in our lives. That's the thing, I think to that comment point, I think a lot of people were just kind of ignoring AI or generative AI, and we're saying we have this false narrative of saying, okay, AI has been around forever and it hasn't disrupted anything. But again, like I started the show on the history, AI historically has only been used in very minute, very specific use cases. It hasn't been for the everyday person until the last six or seven months.

Big takeaway and what can we do about it?

I'll kind of start to close out this show the same way I opened it up. You have to follow the money. You have to follow what the big companies are not just saying. So they're saying, AI is your Facebook, your Google, IBM, Oracle salesforce, right? All these large tech companies are saying, yes, generative AI is the future and it can be disruptive.

Jordan [00:32:16]:

But at the same time, they're investing billions of dollars into the technology. They're reallocating their own internal resources to have people spend more time on this. And at the same time they're laying off tens of thousands of employees. So that will trickle down to all of us. So let's not end it on a down note, right? But I think this was the elephant in the room that we needed to talk about on the everyday AI show. But what can we do? What can we do about it? Right, here's the thing. I don't know if it's going to be similar to what Goldman Sachs said and 300 million jobs, that might be a bit high. But regardless, in the coming months and years, generative AI is going to be extremely disruptive to the workplace, to the workforce.

Jordan [00:33:03]:

Especially, I think, in the US. Where it is driving. Our growth. Kind of talked about that in the beginning with one of our news pieces. Depending on which index you look at, the US. Economy has improved over the past year. But if you take out big tech and companies that are heavily invested or involved in AI, the economy is actually down. So there's plenty of studies out, and we kind of mentioned that Wall Street Journal article today.

Jordan [00:33:31]:

Right now, AI or AI related companies are driving the US. Economy. So that should tell you all you need to know about. Is this going to be something that impacts us in the future? The answer is yes. So what can you do about it? It's okay to feel overwhelmed about this new technology, but don't fight it. Don't be prideful. Don't think that an AI can not perform a job at the same level as you with proper training and with proper technical advancements, again, I think it can perform at the same level or higher than many people out there. Probably the overwhelming majority.

Jordan [00:34:14]:

If you have a desk job, if you're working in front of a computer, I'd say AI can pretty much either will soon be able to get up to your speed or will be able to outpace you in terms of output and quality. That's just the facts. That's reality, right? So what can we do? We have to learn AI. We have to use it. Because if you fight it off, if you have too much pride, greed will eventually catch up. And those sectors, those companies, those positions, you will start to see them being replaced. And not in a one to one way like past innovation has technically done. AI has, like Sam Altman said, like Goldman Sachs has said, AI has the potential to be extremely disruptive.

Jordan [00:35:02]:

So the best thing that we can do is learn it and use it. So if you do want to learn AI, please continue to tune in. Join us tomorrow. Join us every day on everyday. AI. So thank you for tuning in. I know this was a long one. This was a hot a hot take episode, but I think it's important.

Jordan [00:35:22]:

So again, drop us a comment, reply, sign up to the newsletter at your everyday Ai.com and we hope to see you back tomorrow and everyday at Everyday AI. Thanks.

Gain Extra Insights With Our Newsletter

Sign up for our newsletter to get more in-depth content on AI