Recent advances in artificial intelligence have the potential to seriously affect labor markets. Some believe that artificial intelligence will be the end of work for humans. Others believe that artificial intelligence is like any other technological innovation from the past and will create just as many jobs as it destroys. I conclude that while artificial intelligence can bring about many of the benefits of technological change seen in history, it drastically differs from innovations in the past and will result in massive unemployment. To ensure that everyone benefits from this huge step forward, policies need to be developed to accommodate the changes that will begin to take place in the labor markets. Along with presenting the different arguments and my conclusion, I also discuss some of these policies that can mitigate some of the impacts that artificial intelligence will have on labor markets.
Major Themes in Economics
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"The Return of the Machinery Question: Is it different this time?,"
Major Themes in Economics: Vol. 19
, Article 3.
Available at: https://scholarworks.uni.edu/mtie/vol19/iss1/3