Welcome back friends and new AI enthusiasts to ChildsPlayAI, a weekly newsletter where we break down what’s happening in AI, in language you can understand.
AI might be creating more jobs than it’s killing, says a new study from the European Central Bank.
Speaking of bank bro, we hear prompt engineering is all the rave – and pays $$$.
Let’s dig in.
Pipe down on the whole AI taking our jobs
Ever since ChatGPT started whispering into our ears, people went rabbit hole deep on artificial intelligence ending human labour. As ridiculous as it may sound, it is ridiculous. And a new study from the European Central Bank agrees these fears are greatly exaggerated.
What’s certain is that AI breakthroughs are real and have been for some time now. Advances in robotics and image recognition for example have certainly questioned the need for warehouses full of humans or even X-ray technicians. But for the most part, waves in innovation throughout history result in more new jobs being created.
Some things to note:
Economists who wrote the paper noted that AI-related automation might slightly hurt wages – basically occupations more exposed to AI have slightly worse wage growth – but the jury is gonna be out for a while on this one as the AI story evolves.
AI-enabled automation was more likely to create more high-skill roles and lead to more employment for younger workers.
Previous reports have indicated that a boom around AI has led to an expansion in the use of gig workers to perform mundane tagging work of data to train AI
And people are searching – data from Indeed showed job-seeker searches for “generative AI” increased 17,000% in the last year.
There’s likely going to be a huge shift regardless with AI. Yes, it will automate some work but it will open opportunities in other areas.
I wanna be a prompt engineer when I grow up!
Asking a class of kindergartners what they want to be when they grow up in the world of AI might deviate from the traditional answers – you might hear “prompt engineer.” And rightly so cause it pays pretty darn well right now.
Going back to basics, prompts are the conversations you’re having with ChatGPT for example. There’s a whole world to explore if you’re curious.
What prompt engineers do is have conversations all day every day with Large Language Models to produce desired outcomes and better train the models. Think of it like teaching a child through questions – a well-phrased question can guide a child’s thought process – and a well-crafted prompt can steer an AI model toward a specific output.
A journalist from the Wall Street Journal decided to go down the path of applying for a prompt engineering job and while she concluded she had no intentions of leaving her job, she noted some key findings:
Pay ranges are anywhere from $100k – $200k per year with higher tiers at $250k based on technical experience
This role is like programming but in the English language
You do need to understand how these systems work to be successful
There are courses available to teach you prompt engineering
It’s unclear if these roles will be around for a long time to come or if prompt engineers will be replaced by the very technology they are helping to create. Either way, there’s a good living to be made and a clear path to entry for those willing to put in the work.
Improve your Life-Hacks
Landscape design just got easy!
LiarLiar – pants on fire. LiarLiar.ai is a new AI-powered app that claims it can detect lies.
How it works: it analyzes a human face, detecting things such as color changes in the face, eye movements, facial expressions, and body language to tell if a person is speaking the truth.
LiarLiar can be used on any video feed. So turn it on in your next family Zoom call and ask your parents how they really met. 🙂
We could use a little hand here…..