The Shift in Economic Thinking on AI and Employment
Among tech evangelists in Silicon Valley, it has become conventional wisdom that artificial intelligence will rapidly reshape the labor market, for better or worse. Economists, however, have often discussed AI's impact with a skepticism bordering on dismissiveness.
Rising unemployment among young college graduates? The result of high interest rates and macroeconomic uncertainty. Dire predictions of widespread job losses? A failure to understand the lessons of past technological revolutions. Even the layoffs that companies themselves blamed on artificial intelligence were often chalked up to "AI-washing" from executives looking for something to blame other than their own mismanagement.
Recently, however, the message from economists has undergone a subtle change. Most still do not see much evidence that AI is disrupting the job market. But they are starting to take seriously the possibility that it could someday soon. If it does, they are worried that policymakers are not ready to respond.
Subscribe to The Times to read as many articles as you like.
Ben Casselman is the chief economics correspondent for The Times. He has reported on the economy for nearly 20 years.
Related Content
Advertisement
SKIP ADVERTISEMENT
Comments
Join Our Community
Sign up to share your thoughts, engage with others, and become part of our growing community.
No comments yet
Be the first to share your thoughts and start the conversation!