US Corporate Leaders Admit AI Threatens Human Jobs; AI Startup CEO Warns US Jobless Rate Could Rise to 10-20%
AI has become a hot topic in recent years, with widespread applications in personal life, schools, and workplaces. According to The Wall Street Journal, US corporate executives are no longer avoiding the discussion of whether AI will take away human jobs, but are beginning to predict how many jobs AI will actually take away.
The report quoted Ford Motor (F.US) CEO Jim Farley, who said in an interview at an event last week that AI will eliminate a large number of white-collar jobs, potentially replacing half of the white-collar workforce in the US.
Marianne Lake, who manages consumer and community banking at JPMorgan (JPM.US), told investors in May that she expects the number of employees operating this business to drop by 10% in the coming years, as the company uses new AI tools.
The report also cited Amazon (AMZN.US) CEO Andy Jassy, who wrote in a memo to employees in June he expects the company's total workforce to reduce in the coming years, due to groundbreaking AI technology.
According to an earlier report by Axios, Anthropic CEO Dario Amodei stated in May that half of all entry-level jobs could disappear within 1-5 years, leading to a US unemployment rate of 10-20%.
~
AAStocks Financial News
Web Site: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| SENTM (Bull) |
60826 |
1.24 (1.3) |
0.051 |
5.9 X |
| SENTM (Bull) |
62195 |
1.15 (1.21) |
0.070 |
4.3 X |
| BAIDU (C) |
29131 |
120.1 (-) |
0.016 |
10.0 X |
| BAIDU (C) |
25923 |
105.1 (-) |
0.045 |
6.0 X |
| BAIDU (P) |
15117 |
78.83 (-) |
0.131 |
4.2 X |
| BAIDU (Bull) |
60844 |
76.8 (78.8) |
0.101 |
8.5 X |
| BAIDU (Bull) |
59989 |
70 (72) |
0.172 |
5.0 X |
| ALIBA (C) |
16291 |
125.1 (-) |
0.044 |
7.1 X |
| ALIBA (C) |
16083 |
118.98 (-) |
0.033 |
9.3 X |
| ALIBA (C) |
13267 |
112.6 (-) |
0.177 |
5.6 X |
| ALIBA (C) |
29058 |
110.3 (-) |
0.118 |
7.9 X |
| ALIBA (P) |
13581 |
98.94 (-) |
0.064 |
5.6 X |
| ALIBA (P) |
27782 |
82.83 (-) |
0.024 |
9.1 X |
| ALIBA (Bull) |
65010 |
98.5 (100) |
0.070 |
15.0 X |
| ALIBA (Bull) |
63768 |
96.5 (98) |
0.091 |
11.5 X |
| ALIBA (Bear) |
56934 |
124 (122.5) |
0.162 |
6.5 X |
| ALIBA (Bear) |
63569 |
119 (117.5) |
0.122 |
8.6 X |
| AMZN (C) |
10580 |
245 (-) |
0.151 |
8.4 X |
| AMZN (P) |
10700 |
180 (-) |
0.183 |
3.9 X |
