Study Shows AI Hitting Paychecks, Not Payrolls

Apollo Chief Economist Torsten Slok says early labor-market data suggest AI’s first impact is appearing more in wages than employment. In a study of hundreds of occupations, Slok found that jobs with higher exposure to AI have seen weaker wage… Apollo Chief Economist Torsten Slok says early labor-market data suggest AI’s first impact is appearing more in wages than employment. In a study of hundreds of occupations, Slok found that jobs with higher exposure to AI have seen weaker wage growth, while the employment effect remains relatively small. But the picture is still coming into focus: Slok says AI is also helping fuel record business formation, which could create new jobs and make the economy more dynamic. Former IBM HR chief Diane Gherson says companies are already deciding which work can be automated, which employees can be retrained and whether AI savings come through layoffs, slower hiring or reskilling. (Source: Bloomberg)