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AI Could Destroy 25 Million US Jobs [Yahoo! Finance]
Last nvidia corporation earnings: 2/13 04:20 pm
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The analyst who called NVIDIA in 2010 just named his top 10 AI stocks. Get them here FREE AI could eliminate as many as 25 million US jobs, according to a new Boston Consulting Group (BCG) figure. The new CEO of Verizon ( NYSE: VZ ), Dan Schulman, calls this a disaster. The Wall Street Journal reports, “Just months into the job, he has predicted 20% to 30% unemployment within the next two to five years.” The total is based on a current unemployment rate of 5% added to the BCG figure. Schulman's figure is higher than most estimates. However, Oxford Economics puts the figure slightly higher than some think tanks do. When the two figures are combined, the total number of unemployed people could exceed 30 million. READ: The analyst who called NVIDIA in 2010 just named his top 10 AI stocks The BCG calls the jobs lost, based on their work, “substituted and divergent categories.” They are jobs where AI can perform much better and more efficiently than a human. The figure, if corre
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