Labour market risks

"Unlike previous waves of automation, general- purpose AI has the potential to automate a very broad range of tasks, which could have a significant effect on the labour market. This could mean many people could lose their current jobs. Labour market frictions, such as the time needed for workers to learn new skills or relocate for new jobs, could cause unemployment in the short run even if overall labour demand remained unchanged."

"Current general-purpose AI is likely to transform the nature of many existing jobs, create new jobs, and eliminate others. The net impact on employment and wages will vary significantly across countries, across sectors, and even across different workers within the same job."