‘Jobs may disappear’: Nearly 40% of global employment could be disrupted by AI, IMF says

[bnew]

From $8,000 to $3: OpenAI's Revolutionary Impact on Legal Work - Wall Street Pit

OpenAI CPO Kevin Weil says their o1 model can now write legal briefs that previously were the domain of $1000/hour associates: "what does it mean when you can suddenly do $8000 of work in 5 minutes for $3 of API credits?" pic.twitter.com/MotT9Oo9rv— Tsarathustra (@tsarnick) October 19, 2024...

wallstreetpit.com

From $8,000 to $3: OpenAI’s Revolutionary Impact on Legal Work​

October 19, 2024 Ari Haruni



OpenAI’s Chief Product Officer Kevin Weil has sparked a profound discussion about AI’s transformative impact on professional services, particularly in the legal sector. His ‘Ray Summit 2024‘ revelation about their o1 model’s capability to produce legal briefs traditionally handled by high-billing associates highlights a dramatic shift in the economics of professional services.

The stark contrast between traditional and AI-powered legal work is eye-opening: what once required six hours of a $1,000-per-hour associate’s time can now be accomplished in five minutes for merely $3 in API credits. This 99.9% reduction in both time and cost raises fundamental questions about the future of professional services and their pricing models.

However, Weil’s discussion extends beyond mere cost savings. He emphasizes OpenAI’s broader mission of democratizing access to AI technology. The company maintains a commitment to offering free products while simultaneously developing premium services for those who can afford them. This dual approach reflects a delicate balance between capturing value from their innovations and ensuring widespread accessibility.

The challenge lies in reconciling three key factors: the immense value created by AI tools, the need to monetize these innovations sustainably, and the importance of maintaining accessibility for users worldwide. Weil acknowledges that while a $20 monthly subscription might seem reasonable in some markets, it remains unaffordable for many global users.

This situation presents both opportunities and challenges. While AI technology promises to dramatically reduce costs and democratize access to professional services, questions remain about how to structure pricing models that are both sustainable for providers and accessible to users across different economic circumstances.

The implications extend far beyond legal services. As AI continues to master tasks traditionally performed by highly paid professionals, industries must grapple with fundamental questions about value, pricing, and accessibility in an AI-augmented world.

Weil’s Ray Summit 2024 full video:

 

[Ohene]

I can’t see AI replacing lawyers

this is EXTREMELY incorrect
litigators sure....

 

[Strapped]

AI will not get rid of most jobs , the United States capitalist war on China will make those jobs disappear. We will not be able to sell nothing abroad other than war machines

 

[Spiider]

this is EXTREMELY incorrect
litigators sure....

That was what I meant. My bad

 

[Neuromancer]

Didn't we also hear that only 5% will be taken?

 

[bnew]

Didn't we also hear that only 5% will be taken?

different consensus by different people, just like how long until we get AGI etc.

 

[Givethanks]

A guy at my office recently told me he can't wait until AI gets rid of Doctors and their so shyt, all because he read of one case of ChatGPT diagnosing some guy with an illness that the doctor couldn't.

He doesn't understand how hard it is to diagnose someone when they come to you saying the same thing as the person before you.

 

[Xtraz2]

Good

 

[bnew]

A guy at my office recently told me he can't wait until AI gets rid of Doctors and their so shyt, all because he read of one case of ChatGPT diagnosing some guy with an illness that the doctor couldn't.

He doesn't understand how hard it is to diagnose someone when they come to you saying the same thing as the person before you.

there'll be no shortage of people willing to subject themselves to this technology for various reasons.

 

[bnew]

 

[Neuromancer]

Aren't these immigrant jobs?

 

[B86]

AI will not get rid of most jobs , the United States capitalist war on China will make those jobs disappear. We will not be able to sell nothing abroad other than war machines

And the remainder of those jobs will have a good number of them being taken by AI. Did you even stop to think before trying to deflect?

 

[B86]

A guy at my office recently told me he can't wait until AI gets rid of Doctors and their so shyt, all because he read of one case of ChatGPT diagnosing some guy with an illness that the doctor couldn't.

He doesn't understand how hard it is to diagnose someone when they come to you saying the same thing as the person before you.

You dont understand how if programmed correctly, AI can do almost anything BETTER than a human. I too can't wait for AI/automation to become the norm because there will be minimal, if any mistakes made and everything will be done at a much faster pace.


"AI" has just become available to the public less than 5 years ago and it has grown exponentially in what it can do in that small amount of time. There are mistakes now but in a few more years the AI will correct itself and there will be no mistakes. Agents are already a thing now which is AI programmed for different tasks to work together, correct each other, and combine minds to achieve more complex tasks.

Those of you that cant wrap your minds around what's coming will get left behind

 

[bnew]

What The Numerology Of 2025 Reveals About What We Can Expect From The Upcoming Year, According To A Spiritualist

She explained that the new year can bring new perspectives and opportunities for us all.

www.yourtango.com

Berkeley Professor Says Even His ‘Outstanding’ Students With 4.0 GPAs Aren’t Getting Any Job Offers — ‘I Suspect This Trend Is Irreversible’​

There seems to be a large percentage of recent college graduates who are unemployed.​

• Nia Tipton
  

Written on Nov 06, 2024

insta_photos | Shutterstock



Recent college graduates aren't fairing any better than the rest of the job seekers in this difficult market.

A college professor admitted that he's seeing it happen to some of his former students who did extremely well but are having a hard time finding work. In a LinkedIn post, James O'Brien, a professor of computer science at UC Berkeley, insisted that it's become a bleak reality for many college graduates because even though they have their degrees, a job isn't coming as easily as it should.

The Berkeley professor said even his 'outstanding' students with 4.0 GPAs aren't getting any job offers.​

"Tech degrees no longer guarantee a job. Lately, I'm hearing similar narratives from students. Previously, a Berkeley CS graduate, even if not a top student, would receive multiple appealing job offers in terms of work type, location, salary, and employer," O'Brien explained in his post.

He noticed that even outstanding students with 4.0 GPAs were now reaching out to him, worried because, despite their impressive transcripts and experience, they weren't receiving any job offers. He concluded that this was happening because of an irreversible trend that is also part of a broader issue that's impacting almost every job seeker in every area.

spoialabrothers | Shutterstock

The professor hypothesizes that even people starting college today will find themselves in a bit of a bind 4 years down road when they are looking for employment.​

There might even be limited options available, which added to the growing number of people who have been laid off and continue to be, it's clear that there's a real issue on the horizon for future graduates.

"We should be doing something about it today," he urged. O'Brien also cited a WSJ article about how tech jobs are seemingly drying up. The publication found that postings for software development jobs have been down more than 30% since February 2020, according to Indeed.com.

Industry layoffs have continued this year, with tech companies shedding around 137,000 jobs since January.

It's disheartening to hear how lackluster the job market is for recent graduates, considering how often we hear about the benefits of going to college and that with a degree, the job market is pretty much your oyster.

Now, however, it seems that even though people are going through four years of college and accruing unimaginable debt, they are still struggling to find employment.

Prostock-studio | Shutterstock

Job hunting has become a real problem for college graduates, no matter what field they're heading into.​

In a recent report from the Strada Institute for the Future of Work and the Burning Glass Institute, researchers found that 52% of graduates with only a bachelor’s degree end up underemployed a year after getting their diploma, which means they work in jobs that don’t typically require a college degree. Ten years on, that number only drops to 45%.

Similarly, a survey of employers by the National Association of Colleges and Employers found that hiring projections for this year’s college graduating class were below last year’s.

It showed that finance, insurance, and real estate organizations were planning a 14.5 percent decrease in hiring this year, a sharp turn from its 16.7 percent increase last year.

To combat the grim reality for many college students who may be inching their way toward graduation, universities and colleges are being urged to really educate their students on what the job market is like now.

That includes quality career counseling, resume reviewing, and assistance, as well as being transparent about the types of occupations that students may end up in once they are no longer in school.

Nia Tipton is a Chicago-based entertainment, news, and lifestyle writer whose work delves into modern-day issues and experiences.

 

[Gator48]

So the bots are going to be making products for other bots to buy