Economics of ChatGPT: A Labor Market View on the Occupational Impact of Artificial Intelligence

Zarifhonarvar, A. (2023), "Economics of ChatGPT: a labor market view on the occupational impact of artificial intelligence", Journal of Electronic Business & Digital Economics

17 Pages Posted: 9 Feb 2023 Last revised: 19 Dec 2023

Date Written: February 7, 2023

Abstract

This study examines how ChatGPT affects the labor market. I first thoroughly analyzed the prior research that has been done on the subject in order to start understanding how ChatGPT and other AI-related services are influencing the labor market. Using the supply and demand model, I then assess ChatGPT's impact. This paper examines this innovation's short- and long-term effects on the labor market, concentrating on its challenges and opportunities. Furthermore, I employ a text-mining approach to extract various tasks from the International Standard Occupation Classification to present a comprehensive list of occupations most sensitive to ChatGPT.

Keywords: Large Language Models; Artificial Intelligence; Automation, Labor Saving Technology, ChatGPT, Labor Market, Generative AI, Occupational Classification

JEL Classification: O33, E24, J21, J24

Suggested Citation

Zarifhonarvar, Ali, Economics of ChatGPT: A Labor Market View on the Occupational Impact of Artificial Intelligence (February 7, 2023). Zarifhonarvar, A. (2023), "Economics of ChatGPT: a labor market view on the occupational impact of artificial intelligence", Journal of Electronic Business & Digital Economics, Available at SSRN: https://ssrn.com/abstract=4350925 or http://dx.doi.org/10.2139/ssrn.4350925

Ali Zarifhonarvar (Contact Author)

Indiana University ( email )

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