On the Labor Market Impact of Large Language Models

Summary

The paper "GPTs are GPTs: An Early Look at the Labor Market Impact Potential of Large Language Models" by Tyna Eloundou, Sam Manning, Pamela Mishkin, and Daniel Rock (2023) explores the potential ramifications of large language models (LLMs) like Generative Pre-trained Transformers (GPTs) on the U.S. labor market. Although the paper refrains from speculating on LLM development or adoption timelines, it projects effects across all wage levels, with higher-income jobs potentially being more exposed to LLM capabilities and LLM-powered software. 

The paper presents an innovative rubric for evaluating LLM capabilities and their potential job effects, considering both current model capabilities and anticipated tools built upon them.