Discussion Paper

Exposure to Generative AI and Expectations About Inequality

Abstract: With the rise of generative AI (genAI) tools such as ChatGPT, many worry about the tools’ potential displacement effects in the labor market and the implications for income inequality. In supplemental questions to the February 2024 Survey of Consumer Expectations (SCE), we asked a representative sample of U.S. residents about their experience with genAI tools. We find that relatively few people have used genAI, but that those who have used it have a bleaker outlook on its impacts on jobs and future inequality.

Keywords: generative artificial intelligence (AI); genAI; labor market; inequality; artificial intelligence (AI);

JEL Classification: J23; J30;

Bibliographic Information

Provider: Federal Reserve Bank of New York

Part of Series: Liberty Street Economics

Publication Date: 2024-10-02

Number: 20241002