Cautionary Notes on the Rush to STEM for AI Jobs: A Nobel Prize-Winning Economist’s Perspective
In the fervor surrounding the burgeoning field of artificial intelligence (AI), students are flocking to STEM (Science, Technology, Engineering, and Mathematics) programs, driven by the anticipation of securing lucrative and dynamic roles in the AI industry. However, Nobel Prize-winning economist Christopher Pissarides, an esteemed professor at the London School of Economics, has sounded a note of caution. In a recent interview with Bloomberg, he expressed concerns about the potential risks inherent in the current trajectory of IT jobs related to AI.
Pissarides highlighted a critical paradox within the realm of AI development. The very skills that are currently in demand — those essential for collecting, collating, and developing data to propel AI forward — may ultimately render the roles of the workers possessing these skills obsolete. He noted that as AI evolves, it has the capacity to perform these tasks itself, potentially making human involvement redundant. “The skills that are needed now… will make the skills that are needed now obsolete because it will be doing the job,” Pissarides cautioned, suggesting that the demand for these evolving IT skills carries the seeds of its own self-destruction.
Despite a significant surge in applications to computing programs at universities, particularly in the UK, Pissarides cautioned that the hype around AI may not align with the actual availability of jobs in the field. The exponential growth in applications for software engineering and computer science programs may outpace the demand for AI professionals. Pissarides urged a nuanced consideration, emphasizing that soft skills such as communication and empathy, particularly in industries like hospitality and healthcare, might offer more enduring prospects since they are less likely to be automated by AI.
Contrary to the prevailing enthusiasm for STEM disciplines, Pissarides underscored the significance of valuing jobs that involve personal care, communication, and strong social relationships. He encouraged a shift in perspective, asserting that such roles are not inferior but rather superior to historical entry-level positions.
The allure of AI roles is undoubtedly fueled by the substantial salaries offered by tech giants like Google, Microsoft, Meta, and OpenAI. These companies, along with non-tech entities like Disney, JPMorgan, and Accenture, are enticing skilled professionals with competitive compensation packages. However, Pissarides urged a broader view, suggesting that the rise in STEM graduates may not necessarily align with the actual job market demands, and other non-technical skills are likely to gain prominence in the evolving landscape.
As the rush to AI-related STEM education continues, Pissarides’ words serve as a reminder to students and professionals alike to consider the evolving nature of technology and the potential consequences of pursuing skills that may face obsolescence in the not-too-distant future.
