Historical data is being examined to understand the impact of artificial intelligence on the workforce

Today's economists are re-examining technological change processes from nearly a century ago to evaluate the potential impacts of artificial intelligence on the job market.

At the American Economic Association meeting held in Washington in 1931, economists of the era discussed how new technologies such as telephones and trucks threatened traditional industries. Harvard economist Sumner H. Slichter warned at the time that the pace of technological change was causing social problems. Today, researchers are trying to learn from these historical examples to understand whether artificial intelligence will create a similar workforce transformation.

Historical analyses reveal that the impact of technological change on the workforce varies greatly depending on the broader economic context. While technological displacement caused limited unemployment during the economic expansion of the 1920s, it yielded devastating results during the Great Depression. In the post-World War II era, however, economic growth facilitated the transition of displaced workers into new sectors. Experts note that while history does not provide definitive answers for the artificial intelligence transition, it offers critical insights into how societies managed rapid technological changes in the past.