April 29, 2024 – Recent surveys indicate that managers are increasingly concerned about the potential impact of advanced artificial intelligence tools, such as OpenAI’s ChatGPT, on their salaries.
A study by the AI startup Beautiful.ai, which surveyed 3000 managers in the U.S., revealed that 48% of them view AI tools as a potential threat to their earnings.
This sentiment is expected to exacerbate the trend of decreasing salaries across the U.S. in 2024.
The fear stems partly from the recognition of AI’s capabilities. A significant 64% of respondents believe that the output and productivity of AI are on par with, if not superior to, what human managers can achieve.
Since its launch in November 2022, ChatGPT has diversified into tasks such as generating videos, creating marketing materials, and designing course curricula.
Earlier in March, the startup Cognition introduced Devin, dubbed “the first AI software engineer,” capable of fixing bugs and training other AI models.
Moreover, executives are also uneasy about the potential for these tools to reduce overall employee wages.
According to Beautiful.ai’s findings, 62% of surveyed executives reported that their employees fear job losses due to AI, and 45% believe that AI will lead to reduced salaries across their workforce.
However, AI technology also brings potential benefits. For instance, a study by Access Partnership in December last year found that employers were willing to offer at least a 30% pay increase to employees skilled in AI technologies, and major companies are offering salaries well into the six figures to attract these talents.
Additionally, generative AI has spawned new professions such as ChatGPT course instructors and content editors.
Despite uncertainties about how AI will ultimately reshape the workplace, 64% of managers have begun using AI in their daily or weekly management routines since early 2024.
The challenge now is not whether to adopt AI in the workplace but when and how to effectively integrate it into daily operations.
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