Labor market study AI could already replace 12 percent of US jobs
Artificial intelligence is on the rise in the world of work. According to a study by MIT, AI could already replace almost 12 percent of US jobs.
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- A study by the Massachusetts Institute of Technology (MIT) concludes that artificial intelligence could already replace almost 12 percent of US jobs.
- This corresponds to a wage volume of up to CHF 960 billion in the areas of finance, healthcare and professional services.
- The study used the so-called Iceberg Index, which simulates how 151 million US workers interact across the country.
According to a study by the renowned Massachusetts Institute of Technology, artificial intelligence could already replace 11.7 percent of the US labor market. This would correspond to a wage volume of up to 1.2 trillion US dollars (around 960 billion Swiss francs) in the financial, healthcare and professional services sectors.
The study was conducted using a labor simulation tool called the Iceberg Index, which was developed by MIT and the Oak Ridge National Laboratory. This index simulates how 151 million U.S. workers across the country interact and are impacted by AI and related policies.
The index treats the 151 million workers as individual actors, each tagged with skills, tasks, occupation and location. It captures more than 32,000 different skills in 923 occupations across 3000 counties and then identifies where current AI systems can already perform these skills.
Digital twin for the US labor market
The Iceberg Index, unveiled earlier this year, offers a forward-looking look at how AI could transform the labor market not just in coastal tech hubs, but in every state across the country.
"Basically, we're creating a digital twin for the U.S. labor market," Prasanna Balaprakash, director of ORNL and co-leader of the study, told TV station CNBC. ORNL is a Department of Energy research center in eastern Tennessee that houses the Frontier supercomputer, which supports many large-scale modeling projects.
The index conducts population-level experiments and shows how AI is reshaping tasks, skills and workflows long before these changes are visible in the real economy, Balaprakash said.