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Firms have invested heavily in artificial intelligence, or AI,
leaving economists striving to understand the impact on the
labor market and driving fears among the wider public for the
future of their jobs.
At the same time, employers are struggling to find qualified
workers, despite a recession that would normally ease labor
market pressures.
In a sample of 16 European countries, the employment share of
sectors exposed to AI increased, with low and medium-skill jobs
largely unaffected and highly-skilled positions getting the
biggest boost, a Research Bulletin published by the ECB said.
But it also cited "neutral to slightly negative impacts" on
earnings and said that could increase.
"These results do not amount to an acquittal," the paper said.
"AI-enabled technologies continue to be developed and adopted.
Most of their impact on employment and wages – and therefore on
growth and equality – has yet to be seen."
The findings were in contrast to previous "technology waves," it
said, when computerization decreased "the relative share of
employment of medium-skilled workers, resulting in
"polarization".
(Reporting by Balazs Koranyi; editing by Barbara Lewis)
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