Reported about 8 hours ago
As AI technology continues to advance, concerns are growing about its impact on the job market. While historical patterns suggest that job destruction from technological change is often followed by new job creation, economists warn of potential 'transitional friction' during this adjustment period. Goldman Sachs highlights that significant job losses may not occur until a recession prompts companies to restructure. This shift may be particularly difficult as AI threatens to replace workers rather than augment their roles, leading to uncertainty in employment and productivity growth.
Source: YAHOO