Augusta is set to benefit from the increasing use of Large Language Models (LLMs), a type of artificial intelligence (AI) model that can understand and generate human language (so says Google AI Overview!). According to recent economic research by Scott Abrahams and Frank Levy, Augusta is ranked second in a list of Metropolitan Statistical Areas (MSAs) that may benefit from the technological change.
Their analysis follows from the observation that 15% of all tasks currently performed by humans could be completed by generative software such as ChatGPT, and 19% of the workforce is in an occupation where at least half the tasks might be performed by LLMs.
The occupations most likely to be affected by this change are primarily office jobs such as accounting and back-end administration undertaken by college graduates. The cities most at risk are on the east and west coasts where much of this work is currently done. Workers in these locations replaced by AI will migrate to new opportunities in other areas. This is where Augusta will do well.
First, Augusta’s exposure to occupations that could be replaced by AI is low. Second, graduates like to be with other graduates in places that offer consumption amenities. Currently, graduates make up 35.2% of the population in Augusta, about the national average. Third, although house prices have risen locally in the past few years, they are still below national averages, which is attractive for migrants. Finally, the authors note that recent population growth may already be a leading indicator of migration patterns and desirable locations, and Augusta’s population growth from 2022-2023 was 3.0%.
Other regional MSAs making the top 23 list include Savannah GA, Columbia, SC, and Greeneville SC.
