Former U.S. Commerce Secretary Says AI Could Trigger Tens of Millions of Layoffs, Deep Recession Without a Response Plan
Summary
- Former U.S. Commerce Secretary Gina Raimondo warned that tens of millions of people could lose their jobs if there is no response plan for the spread of artificial intelligence (AI).
- Raimondo said AI could trigger mass layoffs before it creates new jobs.
- She said the employment shock could lead to a deep recession.
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Former U.S. Commerce Secretary Gina Raimondo warned that tens of millions of people could lose their jobs and a severe recession could follow if no response plan is put in place for the spread of artificial intelligence.
Cointelegraph, a cryptocurrency-focused media outlet, reported on September 29 that Raimondo said AI could trigger mass layoffs before it creates new jobs.
She said layoffs could reach into the tens of millions if AI adoption accelerates without proper planning.
Raimondo also said the employment shock could lead to a deep recession.
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