Experts say demographic shifts, not AI, create the biggest challenges for work

But concerns over growing inequality and the lack of opportunity for many in the labor force — serious matters linked to a variety of structural changes in the economy — are well-founded and need to be addressed, four scholars on artificial intelligence and the economy recently told an audience at Stanford Graduate School of Business. “Most jobs are more complex than [many people] realize,” said Google’s chief economist, Hal Varian, during a forum on the future of work, which was sponsored by the Stanford Institute for Human-Centered Artificial Intelligence. Comparing the most aggressive expert estimates about the impact of automation on labor supply with demographic trends that point to a workforce reduction, Varian finds that the demographic effect on the labor market is 53% larger than the automation effect.

Source: www.gsb.stanford.edu