Raghuram Rajan: Will AI spell a job scarcity? It’s time for policymakers to begin scenario planning

Raghuram Rajan: Will AI spell a job scarcity? It’s time for policymakers to begin scenario planning

Our best hope is that AI augments jobs rather than wipes them out and the AI industry stays competitive instead of turning oligopolistic. But this is not guaranteed. Planning for various alternate scenarios must start before any of them begins to pan out.

This has always been the case. For example, although automated telephone exchanges were possible in the 1920s, the last human telephone operator in the US was not replaced until the 1980s. Moreover,… [+5764 chars]
Raghuram Rajan: Will AI spell a job scarcity? It’s time for policymakers to begin scenario planning - FHMnews