Posted 2/2/2024, 11:53:00 AM
BOE Chief Optimistic on AI Job Impact But Researchers Urge Caution
- BOE chief Andrew Bailey believes AI won't destroy jobs - as an economic historian, he says economies adapt and new jobs are created
- Historians tend to be optimistic about technology's impact on jobs based on past industrial revolutions
- However, many believe this time is different and AI's impact remains unclear
- An ECB study suggests AI may have neutral to slightly negative impacts on workers' earnings
- MIT research finds most jobs would still be too expensive for firms to automate with AI