Labor and jobs

Prof. Anna Stansbury speaks with Soumaya Keynes of the Financial Times podcast “The Economics Show” about her recent research on the class ceiling, which finds that an individual’s family circumstances can hold them back, even if they have earned a PhD. “We should care if people have opportunities to fulfill their talents for reasons of equity and justice. But the other is a very kind of banal economic reason, which is efficiency,” says Stansbury. “If you assume that talent for something is equally distributed, then we should care if people that are talented aren’t getting to fulfill that talent because it’s worse for overall productivity and overall outcomes.”

Writing for MarketWatch, Joseph Coughlin, director of the MIT AgeLab, emphasizes that the dockworker strike was “emblematic of broader shifts in the American workforce and the integration of technology in the workplace. As older generations retire and younger ones seek more flexible, technology-driven careers, traditional industries must adapt or be left behind.”

Prof. Yossi Sheffi speaks with Boston Globe reporter Hiawatha Bray about the challenges and risks posed by implementing automation, amid the dockworkers strike. Sheffi emphasized the importance of gradually introducing new technologies and offering workers training to work with AI. “There will be new jobs,” says Sheffi. “And we want the current workers to be able to get these new jobs.” 

Prof. Yossi Sheffi speaks with Associated Press reporter Cathy Bussewitz about how automation could impact the workforce, specifically dockworkers. “You cannot bet against the march of technology,” says Sheffi. “You cannot ban automation, because it will creep up in other places... The trick is to make it over time, not do it haphazardly.” 

Prof. David Autor speaks with Washington Post reporter Cat Zakrzewski about the anticipated impact of AI in various industries. “We are just learning how to use AI and what it's good for, and it will take a while to figure out how to use it really productively,” says Autor. 

MIT researchers have found that more workers without college degrees are optimistic about AI and automation initiatives in the workplace, than those workers with a college diploma, reports Rebecca Klar for Bloomberg Law. The study found “27.4% of workers without a college degree estimated that automation will be beneficial for their job security, compared to 23.7% of workers with a college degree,” explains Klar. 

Researchers at MIT have found that “60% of workers who work with robotics and AI think they’ll see positive career impacts as a result in terms of productivity, satisfaction, and job safety,” reports Sam Becker for Fast Company.

Prof. Daron Acemoglu speaks with Bloomberg reporters John Lee and Katia Dmitrieva about the social and economic impacts of AI. “We don’t know where the future lies,” says Acemoglu. “There are many directions, the technology is malleable, we can make different choices.” 

Researchers from MIT and Stanford University have found “staff at one Fortune 500 software firm became 14% more productive on average when using generative AI tools,” reports Olivia Solon and Seth Fiegerman for Bloomberg. 

Jeff Karp, an affiliate faculty member with the Harvard-MIT Program in Health Sciences and Technology, speaks with NBC Boston 10 reporter Renée Onque about the “pendulum lifestyle” – a new outlook on work-life balance detailed in Karp’s book “LIT: Life Ignition Tools.” "We hear these things from others, [like] trust in the process [and] balance is so important, we need more balance, it's the ultimate goal," says Karp. "It ends up being very frustrating and can lead to anxiety, because we're constantly feeling like we're not in balance. There's a state we should be in [and] we're never in that state."

Researchers at MIT have found that knowledge spillovers are more likely to occur when people are within 20 meters of one another, reports Tracy Brower for Forbes. Knowledge spillover “can occur intentionally—when you ask a question or gather around a white board to work through issues,” explains Brower. “Or it can be unintentional—when you’re near your team and you overhear a great idea or get passive exposure to the work going on with others.” 

Prof. Kristin Forbes speaks with Reuters reporters Ann Saphir and Howard Schneider about the Federal Reserve’s decision to lower borrowing costs. “It's not one thing that causes everyone to move,” says Forbes. “It's different people focus on different data, different indicators, different risks, and then they all end up in the same place.”

Prof. Kristin Forbes speaks with Associated Press reporter Christopher Rugaber about the Federal Reserve’s announcement declaring the end of the three-year inflation surge. “It really has been a remarkable success, how inflation went up, has come back, and is around the target,” says Forbes. “But from the viewpoint of households, it has not been so successful. Many have taken a big hit to their wages. Many of them feel like the basket of goods they buy is now much more expensive.”

Prof. Daron Acemoglu is a guest on the Financial Times podcast, “The Economics Show with Soumaya Keynes," detailing his research on the economics of AI and implications for workers. He says AI could help the current workforce communicate better and control its own data, while opening up possibilities for the geographically or economically disadvantaged, if the right policies are put in place. “I think having this conversation, and really making it a central part of the public debate that there is a technically feasible and socially beneficial different direction of technology, would have a transformative effect on the tech sector,” he explains.

Writing for Forbes, Andrew Binns highlights research from Prof. Daron Acemoglu suggesting total productivity gains of AI could be as little as 0.53% over 10 years, much lower than common estimates.