Nobel economist foresees four-day week, thanks to ChatGPT
NEW YORK, UNITED STATES — Generative artificial intelligence (GenAI) tools like ChatGPT could enable greater productivity and justify a four-day workweek, according to Nobel Prize-winning economist Christopher Pissarides.
“Now, I do believe that [ChatGPT] will improve the quality of work and probably improve productivity even more,” he said in an interview with Fortune.
Back in April, Pissarides, a London School of Economics professor, already expressed optimism on the ChatGPT revolution. He also brushed off fears that fewer hours at work could result in a loss in pay.
“Pay will not fall because of improvements in productivity,” Pissarides said.
“Things will be done faster with ChatGPT, for example, with AI. We’d be able to do in four days what we’re doing in five days in many professions.”
Aside from Pissarides, JPMorgan Chase CEO Jamie Dimon also predicted that AI advancements could enable shorter workweeks for future generations.
A recent study also suggested that AI may pave the way for 30% of employees in both the United Kingdom and the United States to transition to a four-day workweek by the year 2033.
On the other hand, the “Godfather of AI” Geoffrey Hinton already sounded the alarm on the technology, with Goldman Sachs’ warning that 300 million jobs globally will be affected due to automation.
But Pissarides thinks it’s hard to make such predictions about AI because “there’s a lot more uncertainty about where it’s going next and uncertainty about its capabilities.”
Though full benefits may take years to materialize, Pissarides says supportive policies and sufficient tech investment could help society reap rewards.
