The advent of OpenAI ChatGPT brings lots of things, some real and some worse.
The ChatGPT provides explanations on more complex topics to help serve as a virtual tutor. Users can also ask for guides and any needed clarification on responses with the better implementation of Generative AI based tools like ChatGPT. These tools provide instant responses, which reduces wait times for users seeking assistance.
The mass-level ChatGPT usage case in writing and editing brings lots of changes to the work process by making it efficient. Also, the implementation has reduced the redundant task with the smart adoption of collated data.
The generative AI tools generate results for text-to-text, text-to-image, and image-to-image. Users can also ask for guides and any needed clarification on responses. Better response time. ChatGPT provides instant responses, which reduces wait times for users seeking assistance.
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The reports from “Hui et al. (2023) ©FT The Short-Term Effects of Generative Al on Employment” Xiang Hui Washington University in St. Louis – John M. Olin Business School
Evidence from an Online Labor Market” highlights the important aspects that, with ChatGPT implementation, the global market has drastically decreased in the months since ChatGPT’s launch.
According to the research report, employment and income in industries such as office work and content creation have drastically decreased in the months since ChatGPT’s launch.
Those who are skilled at integrating AI and can offer lower costs and better efficiency are outperforming highly skilled freelancers.
To be competitive in the job market in the future, AI adaptation is essential.
100,000 US dollars saved by American Industries with ChatGPT implementation
The Hui et al. research report highlights how the OpenAI ChatGPT is a threat to writing and editing jobs:
- AI puts higher-paying jobs at risk more and more.
- The job market is getting worse for freelance writers and designers.
- According to a BCG study, AI is useful for some tasks but not for complex analysis.
The report says proactive workforce skill development is necessary given the changing AI landscape. From my perspective, employment, and income in industries such as office work and content creation have drastically decreased in the months after ChatGPT’s launch.
Those who are skilled at integrating AI and can offer lower costs and better efficiency are outperforming highly skilled freelancers.
To be competitive in the job market in the future, AI adaptation is essential.
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The provided graph from the report ‘The Short-Term Effects of Generative Al on Employment’ illustrates a clear trend of declining job opportunities and earnings for freelance writing and editing professionals following the launch of ChatGPT. Specifically, examining the data points:
Writing and Editing Segments that are impacted by the ChatGPT implementation:
Freelance Jobs: The percentage change in monthly freelance jobs begins at a slightly positive variance six months before ChatGPT’s launch. However, immediately after the launch, there’s a sharp decline, with the trend line reaching approximately -3% five months post-launch. This indicates a significant drop in job availability in the sector.
Earnings: The earnings graph depicts fluctuations before the introduction of ChatGPT, yet the general trend after its launch leans towards a decrease. The data shows an alarming drop of about -12% in earnings five months after ChatGPT’s introduction compared to the pre-launch figures.
The data suggests that the introduction of generative AI like ChatGPT has a correlative relationship with a decrease in freelance writing and editing jobs and earnings.
For instance, a month after the launch, the job change percentage dipped below zero, which marked the beginning of a consistent negative trend. This trend is mirrored in earnings, where there was a noticeable drop to nearly -4% in the second month after the launch, which further declined as time progressed.
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These figures highlight a pivotal shift in the freelancing landscape, potentially due to the adoption of generative AI for tasks traditionally completed by humans. The disruption caused by ChatGPT could be due to its ability to efficiently produce written content that may not require significant human editing, thereby reducing the demand for human writers and editors.
