On Tuesday, billionaire investor Ray Dalio warned that artificial intelligence could significantly reshape the global economy by boosting productivity while reducing jobs.
AI Productivity Boom Raises Job Loss Concerns
In a post on X, the billionaire investor said AI represents one of several "major forces" currently reshaping the economy.
He argued that while the technology will make businesses more efficient and reduce costs, it will also displace workers across multiple industries.
"AI is going to enhance productivity and bring costs down over time, but it's also going to bring jobs down a lot. It is a huge wealth gap producer," Dalio wrote.
He raised concerns about how the benefits of AI-driven growth would be distributed across society, pointing to education and workforce readiness as key challenges.
"How do you distribute that wealth and its benefits, like education?" he asked.
He added, "Right now, 60% of Americans have below a sixth-grade reading level. How do you make that population productive?"
AI Won’t Kill Jobs
Investor Kevin O'Leary said AI would create new industries and higher-skilled jobs, calling it a continuation of past technological shifts.
He said, "AI is no different" from earlier innovations that sparked similar fears.
Earlier, Apollo Global Management Chief Economist Torsten Sløk said there was "zero evidence" AI was currently causing widespread job losses in the U.S., citing continued hiring and rising demand for AI-related roles and data center construction.
He added that the trend was supporting both employment and inflation.
Nvidia Corp. (NASDAQ:NVDA) CEO Jensen Huang said workers were more likely to be replaced by people using AI than by AI itself, noting that companies were automating tasks rather than eliminating entire jobs.
AI Job Loss Warnings Grow
Vinod Khosla said AI could eliminate most jobs by 2030 by automating about 80% of work, while sharply reducing costs and increasing productivity.
Sen. Bernie Sanders (I-Vt.) warned AI and robotics could displace millions of workers, criticizing Congress for failing to act and calling for stronger protections.
Sen. Elizabeth Warren (D-Mass.) also cautioned that AI could reshape or eliminate large portions of the workforce, urging immediate action and proposing taxes on AI data center infrastructure.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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