Economic Impacts Discussed at TIME100 AI Panel
The potential of artificial intelligence to strengthen the economy and lead to job losses was addressed at an event held in San Francisco.
Business leaders and experts gathered at the third annual TIME100 AI Impact Dinner in San Francisco to discuss the potential positive and negative effects of artificial intelligence on the economy.
Impacts of Artificial Intelligence on Employment
Panelists discussed in detail the concerns over whether artificial intelligence will lead to massive job losses or a new employment boom.
Booking Holdings CEO Glen Fogel discussed how thousands of human translators at his company have been replaced over time by technology and talked about future AI travel agents.
Corporate Hierarchies and the Labor Market
Cognizant CEO Ravi Kumar S stated that artificial intelligence can empower frontline workers and flatten corporate pyramids.
Ravi Kumar S also advocated for temporary taxes on companies that use artificial intelligence to replace human workers.
Social Unrest and Government Policies
Glen Fogel warned that potential social unrest could occur if governments fail to manage the transition process for workers who cannot be easily retrained.
Global Access and Skills Investments
International Telecommunication Union Secretary-General Doreen Bogdan-Martin drew attention to skills development investments in countries such as Canada and Rwanda.
Bogdan-Martin called for global efforts to connect the unconnected and provide broader access to generative artificial intelligence resources.