Artificial Intelligence and Jobs

Artificial Intelligence is widely seen as a transformative technology, and its effects are already being seen in stock prices, investment expenditures, and the need for electricity but, strikingly, not very much in labor markets - at least not yet. Jed Kolko joins EconoFact Chats to discuss why we haven't seen extensive labor market changes from AI, the prospects for worker displacement and the creation of new types of jobs, as well as changes in the supply of workers, as AI evolves and its adoption spreads. Jed is a Senior Fellow at the Peterson Institute for International Economics and Head of Macro Data Strategy at Rokos Capital Management. He served as Under Secretary for Economic Affairs at the U.S. Department of Commerce from 2022 to 2024.