🤖 The world is running out of people

Good morning and welcome to the latest issue of neonpulse!

Here are the AI headlines making waves:

🌊  Will AI save us from de-population

🌊  The worst lawyer you’ve ever heard of

Let’s get into it!

AI to The Rescue

While many are concerned that AI is coming to take their jobs, there’s a case to be made that AI taking millions of jobs could actually be a good thing.

What many people don’t realize is that a majority of countries around the world are facing declining populations, meaning that millions of jobs will be left unfilled in the not-too-distant future.

Why is this happening?

"We’re not having enough children, and we have not been having enough children for long enough that there is a demographic crisis," said former Google CEO Eric Schmidt.

So rather than being concerned about AI taking jobs, Schmidt believes that AI can benefit society by taking over jobs in industries that are already struggling to find workers in today's shrinking labor market.

As the American baby boomer generation retires in greater numbers each year, the shortage of young people to replace the aging workforce could create a demographic and labor crisis in the next few decades, which could have a devastating impact on the U.S. economy.

But this isn’t just a problem in the US.

Countries around the world are facing the same decline in populations, prompting countries like China and Russia to implement measures and incentives to reverse their population decline.

Other nations, including Japan, have started looking beyond their borders for workers (despite historical resistance to mixing their labor force with too many foreigners) yet AI could play a crucial role in addressing labor force struggles.

History shows that technology tends to step in when there's a shortage of workers, with a recent MIT study finding that an aging population accounted for 35% of the robot and automation adoption in different countries.

Fast-aging nations like Germany, South Korea, and Japan that have invested heavily in robotics are currently experiencing better labor market outcomes compared to the United States, showing AI as a potential path forward for nations facing similar demographic issues.

So while there will inevitably be short term job displacement caused by AI, the long-term impact of the new technology remains promising, as it has the potential to fill the significant gaps in the labor market that are looming in our near future.

CourtGPT

Anyone that’s used ChatGPT understands the temptation to use the technology to cut a few corners at work.

But given the technology’s history of hallucinating, it never hurts to double check the answers the AI is giving you.

Apparently that was too much trouble for a lawyer in New York who recently used ChatGPT to find legal precedence for a case, only for the judge to find out that the legal cases referenced didn't actually exist.

"Six of the submitted cases appear to be bogus judicial decisions with bogus quotes and bogus internal citations," Judge Castel wrote in an order demanding the man's legal team explain itself.

But no one was more suprised than the lawyer, a seasoned attorney with over 30 years of experience that admitted that he had never used ChatGPT for legal research before and had no clue that the AI could “hallucinate” and completely make up answers to his questions.

In his defense, he said he “greatly regretted” relying on the chatbot and promised to never use AI without verifying its authenticity in the future, with the incident serving as a reminder that while AI can be powerful, it's not foolproof.

Answering the same questions again and again is painful.

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And now your moment of zen

That’s all for today folks! We hope you enjoyed today’s newsletter, and we’ll see you bright and early tomorrow!