Paris July 12 2023: When considering all automation technologies including AI, 27% of jobs are in occupations at high-risk of automation, according to finding of OECD.
While firms’ adoption of AI is still relatively low, rapid progress including with generative AI (e.g. ChatGPT), falling costs and the increasing availability of workers with AI skills suggest that OECD countries may be on the brink of an AI revolution. It is vital to gather new and better data on AI uptake and use in the workplace, including which jobs will change, be created or disappear, and how skills needs are shifting.
When considering all automation technologies including AI, 27% of jobs are in occupations at high-risk of automation. Initial findings from a new OECD survey of AI’s impact in the manufacturing and finance sectors of seven countries highlight both the opportunities and risks that AI brings.
In 2022, the OECD gathered data on the impact of AI on people and their workplaces, in the manufacturing and finance sectors of seven countries. The findings show that AI use at work can lead to positive outcomes for workers around job satisfaction, health and wages. Yet there are also risks around privacy, work intensity and bias. The survey revealed a clear divide between what workers think about AI use in their jobs today and their fears for the future. The results highlight the urgent need for policy action now, to ensure that no one is left behind.
Labour markets remain very tight in most OECD countries although the number of vacant positions per job seeker has declined in many countries. Employment has stabilised at a level slightly higher than before the COVID crisis, while unemployment rates across the OECD remain historically low. Labour market participation has increased as well, with fewer working-age people inactive than before the COVID-19 crisis, and the average hours worked per employed person are above or just below pre-crisis levels in most countries.
Labour markets have pushed up nominal wages, but less so than inflation, leading to a fall in real wages in almost all industries and OECD countries. The real value of statutory minimum wages has been preserved thanks to regular adaptation to inflation in many OECD countries. This is particularly important as high inflation weighs heavily on low-income households. Company profits have risen more than labour costs in many countries and sectors, suggesting that the cost-of-living crisis has not been shared equally by everyone.
