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AI job apocalypse not here yet, economist argues

By PulseAugur Editorial · [1 sources] ·

Economist John Quiggin argues that despite widespread hype and significant investment in AI infrastructure, the promised productivity gains and widespread job losses have not yet materialized. He suggests that recent large-scale job cuts at companies like NAB, Qantas, Canva, and Atlassian are more indicative of standard capitalist practices such as offshoring and cost-cutting rather than an AI-driven job apocalypse. Quiggin posits that while some business models, like Canva's, are vulnerable to AI disruption, others, like Atlassian's, are more resilient, and ultimately, the profitability of AI itself remains uncertain, potentially leading to a stock market correction rather than a job market collapse. AI

IMPACT Suggests AI's economic impact is currently overstated, potentially leading to market corrections rather than widespread job losses.

RANK_REASON Opinion piece by a named economist discussing the economic impact of AI.

Read on The Guardian — AI →

AI-generated summary · Google Gemini · from 1 sources. How we write summaries →

AI job apocalypse not here yet, economist argues

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Opinion piece by a named economist discussing the economic impact of AI.
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COVERAGE [1]

  1. The Guardian — AI TIER_1 English(EN) · John Quiggin ·

    Is the AI job apocalypse finally here? The evidence suggests otherwise | John Quiggin

    <p>The role AI played in job losses at Australia’s NAB, Qantas, Canva and Atlassian is far from clear – but it may prove to have more impact on the stock market than the jobs market</p><ul><li><p>Get our <a href="https://www.theguardian.com/email-newsletters?CMP=cvau_sfl">breakin…

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