Instead of depressing wages or taking jobs, generative AI chatbots like ChatGPT, Claude, and Gemini have had almost no wage or labor impact so far – a finding that calls into question the huge capital expenditures required to create and run AI models. In a working paper released earlier this month, economists Anders Humlum and Emilie Vestergaard looked at the labor market impact of AI chatbots on 11 occupations, covering 25,000 workers and 7,000 workplaces in Denmark in 2023 and 2024. Many of th...