Listen to the news

The rapid integration of artificial intelligence into businesses' activities does not currently threaten the number of jobs, especially for young and highly skilled workers, but there could be wage cuts, the European Central Bank said in an analysis.

Companies have invested heavily in artificial intelligence (AI), which creates case studies for economists to understand the impact of the new software on the labor market and the future of jobs.

At the same time, employers are struggling to find skilled workers despite the recession that would normally create the preconditions for a wider choice of specialists.

In a sample of 16 European countries, the share of employment in sectors where the use of AI is increasing and jobs requiring low and "medium" qualifications are largely unaffected. At the same time, the presence of AI in the work of highly qualified staff is growing significantly, says the bulletin published by the ECB. However, the document states that the integration of AI into enterprises has a "neutral to slightly negative impact" on revenues, which can grow.

Artificial intelligence and elections: the threats are many

"These results do not imply acquittal. order.)", according to the document. AI-enabled technologies continue to be developed and implemented by companies. Most of their impact on employment and wages "and therefore on growth and equality" remains to be seen, the report said.

The findings stand in contrast to previous "technology waves", it said, when computerization had reduced the relative share of employment of workers with "average" qualifications, Reuters said.

Follow the channel on

artificial intelligence