The AI boom will wipe out jobs — and there's not really much we can do about it, Paul Krugman says


Nobel-Prize-winning economist Paul Krugman expressed concerns about the impact of AI on jobs during a recent episode of Bloomberg's Odd Lots podcast. He believes that the widespread nature of AI makes it difficult for governments to implement effective interventions to support displaced workers. 

Krugman acknowledged that while AI has the potential to displace a significant number of white-collar jobs, much of this work is not necessarily rooted in creative or original thinking. Instead, he compared it to an advanced form of autocorrect. Krugman also discussed the challenges of measuring the impact of technological innovation like AI, as the current methods used by economists are limited. 

He mentioned that some productivity growth associated with technology can be attributed to relatively commonplace advancements, such as the use of barcodes for inventory management. Ultimately, the true impact of AI on the economy remains uncertain and can only be observed over time.  

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