Pissarides Says 40% of US-UK Jobs Will Dodge AI as Growth Revival Fades
Updated
Updated · Bloomberg · Jul 7
Pissarides Says 40% of US-UK Jobs Will Dodge AI as Growth Revival Fades
1 articles · Updated · Bloomberg · Jul 7
Summary
Christopher Pissarides said AI is unlikely to bring Western economies back to an era of rapid productivity growth, arguing that period may be gone for good.
40% of jobs in the US and UK will be largely untouched by AI, he said, pointing to sectors such as nursing and hospitality where automation has limited reach.
The warning from the Nobel Prize-winning economist challenges expectations that AI alone can deliver a broad-based economic acceleration across advanced economies.
Nobel laureates are split on AI's impact. Is a new era of prosperity coming, or is rapid growth gone forever?
As AI takes over tasks, are we creating new high-paying roles at the cost of 'jobs with dignity'?
AI and the Future of Work: Structural Change, Skill Shifts, and Policy Imperatives for Equitable Growth
Overview
This report highlights Nobel laureate Sir Christopher Pissarides' view that artificial intelligence will drive structural changes in the labor market rather than cause mass unemployment. He urges governments to focus on adapting to new economic realities, especially by addressing challenges in the public sector, such as retaining staff when wages fail to keep up with the cost of living. Pissarides also warns that AI may reduce demand for certain skills, particularly in STEM fields, advising young people to reconsider their career choices. The report emphasizes the need for proactive policies to ensure a resilient and equitable workforce in the AI era.