MIT AI Risk Repository
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3 risk entries extracted from 74 frameworks, coded by domain, subdomain, causal entity, intent and timing. Filter, then export the current selection with its licence and citation attached.
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"The labor market can face challenges from generative AI. As mentioned earlier, generative AI could be applied in a wide range of applications in many industries, such as education, healthcare, and advertising. In addition to increasing productivity, generative AI can create job displacement in the labor market (Zarifhonarvar, 2023). A new division of labor between humans and algorithms is likely to reshape the labor market in the coming years. Some jobs that are originally carried out by humans may become redundant, and hence, workers may lose their jobs and be replaced by algorithms (Pavlik,
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"Industries that require less creativity, critical thinking, and personal or affective interaction, such as translation, proofreading, responding to straightforward inquiries, and data processing and analysis, could be significantly impacted or even replaced by generative AI (Dwivedi et al., 2023). This disruption caused by generative AI could lead to economic turbulence and job volatility, while generative AI can facilitate and enable new business models because of its ability to personalize content, carry out human-like conversational service, and serve as intelligent assistants."
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33.04.03 · Risk Sub-Category
Challenges associated with the economy:
Income inequality and monopolies
"Generative AI can create not only income inequality at the societal level but also monopolies at the market level. Individuals who are engaged in low-skilled work may be replaced by generative AI, causing them to lose their jobs (Zarifhonarvar, 2023). The increase in unemployment would widen income inequality in society (Berg et al., 2016). With the penetration of generative AI, the income gap will widen between those who can upgrade their skills to utilize AI and those who cannot. At the market level, large companies will make significant advances in the utilization of generative AI, since t
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