AI Turns Competence into a Commodity: Evidence from 2.26 Million Freelance Contracts

AI narrows skill gaps by helping weak performers the most. Employers are reacting: hiring in AI-exposed job categories now weights human capital 7.8% less and price 1.1% more than before ChatGPT and the demand premium for highly skilled workers is shrinking. Competence has become commodity, so sell judgment. Agentic AI will reverse the equalization and widen skill gaps again.