Labor displacement - Economic impact

The literature frequently highlights concerns that generative AI systems could adversely impact the economy, potentially even leading to mass unemployment. This pertains to various fields, ranging from customer services to software engineering or crowdwork platforms. While new occupational fields like prompt engineering are created, the prevailing worry is that generative AI may exacerbate socioeconomic inequalities and lead to labor displacement. Additionally, papers debate potential large-scale worker deskilling induced by generative AI, but also productivity gains contingent upon outsourcing mundane or repetitive tasks to generative AI systems.