Two Wall Street figures, David Rosenberg and Rob Arnott, predict significant labor market upheaval due to AI. They suggest the current AI investment surge resembles a stock market bubble, drawing parallels to the dot-com era and the electric vehicle stock frenzy. While AI will eliminate jobs, it will also create new ones, though Rosenberg is more pessimistic about the short-term job creation. Arnott emphasizes that adapting to AI is crucial, as those who leverage it will thrive, while Rosenberg warns of increased job insecurity.
What are David Rosenberg and Rob Arnott’s predictions regarding AI’s impact on the job market and stock market?
David Rosenberg and Rob Arnott predict significant disruptions in the job market due to AI, with potential job losses. They also believe that the current investment surge in AI-related stocks is creating a stock market bubble, drawing parallels to the dot-com era and the electric vehicle stock frenzy of 2021. Arnott suggests that while AI will eliminate jobs, it will also create new ones, similar to previous technological revolutions. Rosenberg is more pessimistic in the short term, suggesting AI could increase unemployment due to its labor-displacing characteristics. Both agree that AI will benefit corporate bottom lines but caution that current valuations already reflect future gains, creating a bubble-like environment.
How will AI affect job displacement according to Rob Arnott?
According to Rob Arnott, AI will lead to the displacement of millions of jobs, but not because of the technology itself. Instead, jobs will be lost to those who know how to effectively use AI. He emphasizes that viewing AI as either a risk or an opportunity is a waste of time, as its rapid evolution is inevitable. Arnott draws parallels to previous industrial revolutions, noting that while millions of jobs were lost, millions more were created, ultimately advancing humanity. He suggests that the majority of jobs from 200 years ago no longer exist and are not missed, even though the transition caused disruption.
What comparisons does David Rosenberg make regarding the current AI investment environment?
David Rosenberg compares the current AI investment environment to the dot-com bubble of the 1990s. He notes that companies are capitalizing on investor enthusiasm by announcing plans to incorporate AI into their businesses, similar to how companies added «.com» to their names during the dot-com era to boost stock prices. Rosenberg believes that while AI offers long-term benefits, the current environment feels like a speculative «mania,» with companies rushing to satisfy investor appetite for AI-related news, creating a bubble-like atmosphere.
Artículo Original: https://www.businessinsider.es/como-ia-cambiara-mercado-laboral-dos-leyendas-wall-street-1271434
Deja una respuesta