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Exposure to Generative AI and Expectations About Inequality

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Abstract

With the rise of generative AI (genAI) tools such as ChatGPT, many worry about the tools’ potential displacement effects in the labor market and the implications for income inequality. In supplemental questions to the February 2024 Survey of Consumer Expectations (SCE), we asked a representative sample of U.S. residents about their experience with genAI tools. We find that relatively few people have used genAI, but that those who have used it have a bleaker outlook on its impacts on jobs and future inequality.

Suggested Citation

  • Natalia Emanuel & Emma Harrington, 2024. "Exposure to Generative AI and Expectations About Inequality," Liberty Street Economics 20241002, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:98932
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    File URL: https://libertystreeteconomics.newyorkfed.org/2024/10/exposure-to-generative-ai-and-expectations-about-inequality/
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    More about this item

    Keywords

    generative artificial intelligence (AI); genAI; labor market; inequality; artificial intelligence (AI);
    All these keywords.

    JEL classification:

    • J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General

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