Why we believe AI reshapes work more so than it reduces overall payrolls

About this episode

Benson Wu and Nick Stenner discuss the impact of AI on jobs and youth unemployment, arguing that AI will reshape work rather than lead to mass unemployment.

Youth labor in the age of AI adjustment Though about one-quarter of global jobs are exposed to AI, the Economics team doesn't share the view that AI will usher in mass unemployment. Benson Wu and Nick Stenner discuss their recent report on the topic, part of the Economics team's larger series on AI impact. They discuss several examples of past tech disruptions, many of which wound up favorable for job prospects when initial predictions were for a much less constructive outcome. Benson and Nick discuss youth unemployment, which is often cited as evidence of AI job destruction but they offer a different take and point out what's been improvement in that metric over the last several months. We share our views on the economies best positioned to benefit from the AI transition, and our take on whether benefits from AI may accrue more to capital than labor. "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America…

People in this episode

Guests: Benson Wu, Nick Stenner

Topics covered

• AI impact
• youth unemployment
• job prospects
• economic benefits
• technology disruption

Keywords

• AI
• unemployment
• job market
• economic impact
• technology

Mentioned in this episode

Organizations: Bank of America, BofA Securities

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