Part 9/11:
Compounding this issue, economists project that the labor market is becoming polarized. While highly skilled, technical jobs and low-wage service positions continue to flourish, the once dominant middle-tier roles typically filled by recent college graduates are disappearing. Unlike past automation waves that complemented human labor, generative AI is uniquely positioned to replace jobs entirely.
A 2024 MIT study highlighted a 19% drop in job postings for repetitive cognitive tasks due to AI adoption, while openings for AI engineers and product managers surged by 11%. This suggests a troubling trend where for every new AI-related job created, two to three junior roles become obsolete.