Economists Challenge AI Layoff Narrative After Tens of Thousands of Job Cuts
Updated
Updated · The New York Times · May 29
Economists Challenge AI Layoff Narrative After Tens of Thousands of Job Cuts
4 articles · Updated · The New York Times · May 29
Tens of thousands of layoffs recently tied to AI have prompted economists to argue that the technology’s bigger payoff is raising worker productivity, not eliminating jobs.
Erik Brynjolfsson of Stanford’s Digital Economy Lab said many executives wrongly assume AI gains come mainly from cutting labor costs, calling that a narrow view of the technology.
Schneider Electric, which employs nearly 160,000 people worldwide, is cited as a company using AI to remove repetitive and tedious tasks that slow employees rather than replace them.
The debate highlights a broader split over how companies measure AI success: head-count reduction versus using the tools to augment workers and lift output.
Is AI 'augmentation' just a PR strategy delaying inevitable mass layoffs?
Beyond job loss, how is AI quietly reshaping our ability to think and create?
With new AI laws active, could firms face lawsuits for replacing workers with algorithms?