IDEAS home Printed from https://ideas.repec.org/a/eme/jebdep/jebde-10-2023-0021.html
   My bibliography  Save this article

Economics of ChatGPT: a labor market view on the occupational impact of artificial intelligence

Author

Listed:
  • Ali Zarifhonarvar

Abstract

Purpose - The study investigates the influence of ChatGPT on the labor market dynamics, aiming to provide a structured understanding of the changes induced by generative AI technologies. Design/methodology/approach - An analysis of existing literature serves as the foundation for understanding the impact, while the supply and demand model helps assess the effects of ChatGPT. A text-mining approach is utilized to analyze the International Standard Occupation Classification, identifying occupations most susceptible to disruption by ChatGPT. Findings - The study reveals that 32.8% of occupations could be fully impacted by ChatGPT, while 36.5% might experience a partial impact and 30.7% are likely to remain unaffected. Research limitations/implications - While this study offers insights into the potential influence of ChatGPT and other generative AI services on the labor market, it is essential to note that these findings represent potential implications rather than realized labor market effects. Further research is needed to track actual changes in employment patterns and job market dynamics where these AI services are widely adopted. Originality/value - This paper contributes to the field by systematically categorizing the level of impact on different occupations, providing a nuanced perspective on the short- and long-term implications of ChatGPT and similar generative AI services on the labor market.

Suggested Citation

  • Ali Zarifhonarvar, 2023. "Economics of ChatGPT: a labor market view on the occupational impact of artificial intelligence," Journal of Electronic Business & Digital Economics, Emerald Group Publishing Limited, vol. 3(2), pages 100-116, December.
    • Handle: RePEc:eme:jebdep:jebde-10-2023-0021
    DOI: 10.1108/JEBDE-10-2023-0021
    as

    Download full text from publisher

    File URL: https://www.emerald.com/insight/content/doi/10.1108/JEBDE-10-2023-0021/full/html?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: no
    File URL: https://www.emerald.com/insight/content/doi/10.1108/JEBDE-10-2023-0021/full/pdf?utm_source=repec&utm_medium=feed&utm_campaign=repec
    Download Restriction: no
    File URL: https://libkey.io/10.1108/JEBDE-10-2023-0021?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    Large language models; Artificial intelligence; Automation; Labour saving technology; ChatGPT; Labour market; Generative AI; Occupational classification; O33; E24; J21; J24;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eme:jebdep:jebde-10-2023-0021. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Emerald Support (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.