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AI raises average wages by 21% and substantially reduces' wage inequality, researchers find

On HALO

2 hours ago

Artificial intelligence "substantially reduces wage inequality while raising average wages by 21 percent," according to a new working paper co-authored by an assistant professor at Stanford University. The paper released this week by Lukas Althoff, titled "Task-Specific Technical Change and Comparative Advantage" and written alongside Hugo Reichardt, an affiliated professor at the Barcelona School of Economics, said that, "Artificial intelligence is changing which tasks workers do and how they do them." "Predicting its labor market consequences requires understanding how technical change affec...