Artificial intelligence (AI) has begun shifting American workers away from occupations most vulnerable to automation, but its overall effect on U.S. employment and wages still remains “muted,” according to a European Central Bank study released on Monday.
U.S. companies have been investing heavily in AI in recent years amid predictions that humans will be replaced at increasing rates.
According to the European Central Bank (ECB) Economic Bulletin article, certain workers, especially junior staff in highly exposed sectors, are starting to become more vulnerable to being replaced by AI.
“All else being equal, between 2019 and 2025 jobs with a high substitution risk grew by around 15 percentage points less than jobs with a low substitution risk,” the report reads….