Oddbean

Fears over AI killing labor demand are ‘probably overblown,’ researcher argues in new Google report ========== Andrew McAfee, a researcher at Google and MIT, argues in a report that fears over AI killing labor demand are 'probably overblown.' He explains that previous general-purpose technologies have shown that the growth they bring is accompanied by strong demand for labor. McAfee explores the implications of generative AI in economic growth, looking at its effects on job skills, wages, industries, and potential risks. Goldman Sachs Research forecasts that AI will start impacting the US GDP in 2027 and could automate around 25% of labor tasks in advanced economies. However, McAfee believes that generative AI will also create demand for new skills. #Ai #LaborDemand #GenerativeAi #EconomicGrowth https://fortune.com/2024/04/29/fears-ai-killing-labor-demand-overblown-google-report/