Posted 3/19/2024, 11:00:00 AM
AI Predicted to Boost Productivity But Also Pose Risks of Job Losses and Inequality
- Jan Hatzius, Goldman Sachs chief economist, predicts AI will boost US productivity and economic growth over time by making workers more efficient
- However, AI may also "destroy employment in some areas" by automating certain jobs
- AI tools like chatbots can help workers be more productive, but may fully replace some jobs
- There are concerns AI may increase inequality if displaced workers don't have access to retraining programs
- Some investors believe AI is fueling a valuation bubble; Jeremy Grantham warns the AI boom may be overdone