AI is not causing widespread job losses but it is slowing pay raises, study says

For years, the biggest fear around artificial intelligence was that it would replace workers altogether. However, the reality emerging from a recent data looks different. Instead of triggering mass layoffs, AI appears to be squeezing paychecks.

A new white paper by Apollo Global Management suggests the technology’s biggest impact so far has been on wages rather than employment. Workers in jobs with the highest exposure to AI have seen slower wage growth since generative AI entered the mainstream in 2023, even as overall employment in those occupations has remained largely unchanged.