AI starting to hit office space market

[Arthur Hanson]

AI is just starting to lower the demand for office space market as it's starting to replace people. This is just the very beginning of changes AI is going to make in just about every aspect of the world as we know it. Any thoughts, comments or additions sought and welcomed.

 

[MKWVentures]

AI is just starting to lower the demand for office space market as it's starting to replace people. This is just the very beginning of changes AI is going to make in just about every aspect of the world as we know it. Any thoughts, comments or additions sought and welcomed.

So if AI is replacing people and lowering the amount of people in jobs, then employment (not unemployment) must be down. How much has the number of people employed decreased since 2023?

 

[swka]

So if AI is replacing people and lowering the amount of people in jobs, then employment (not unemployment) must be down. How much has the number of people employed decreased since 2023?

perhaps a too early optimistic view, how many new category of jobs created by AI enabled work flow

 

[MKWVentures]

perhaps a too early optimistic view, how many new category of jobs created by AI enabled work flow

exactly. History tells us that the Jobs change, they do not go away. But since people keep saying jobs are going away, I think they should show the actual data.

 

[KevinK]

So if AI is replacing people and lowering the amount of people in jobs, then employment (not unemployment) must be down. How much has the number of people employed decreased since 2023?

Here's a one year perspective from BLS. Most every industry shed employees YoY or remained flat, except for "Private Education and Healthcare", and "Leisure and Hospitality". Both those are total laggards in AI and the least automated. But I'm pretty sure that WFH / COVID already laid a big hit on office space demand, through we're beginning to see it reshape in a new post-COVID model.

Employment by industry, monthly changes, with confidence intervals

www.bls.gov

 

[Barnsley]

If offices are not needed, what happens to the value of the land?

That would impact a lot of budgets if suddenly no takers.

Here in Singapore "office space" and the building and renting of such is a big part of the economy. We shall see if there is actually any impact at all.

At the minute , I dont see any.

 

[Daniel Nenni]

Share values of property services firms tumble over fears of AI disruption

But despite second day of declines on Wall Street, analysts say sell-off ‘may overstate immediate risk to complex deal-making’ of AI

www.theguardian.com