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In late May, Anthropic CEO Dario Amodei raised alarms about AI's impact on jobs, warning that 50% of entry-level positions could disappear within five years, potentially driving U.S. unemployment to 20%. He's not alone in sounding the alarm, as a recent Wall Street Journal article highlights a wave of CEOs issuing grim forecasts about AI's effect on employment, turning dire predictions into a competitive trend.
These warnings predate Amodei’s remarks. At JPMorgan’s investor day in early May, consumer banking head Marianne Lake predicted AI would “enable” a 10% workforce cut. Since then, the forecasts have grown bleaker. Amazon’s Andy Jassy recently cautioned employees about a shrinking workforce due to a “once-in-a-lifetime” technological shift. ThredUp’s CEO, speaking at a conference, claimed AI would eliminate “way more jobs than the average person thinks.” Ford’s Jim Farley went further, asserting last week that AI could replace half of all U.S. white-collar workers. This marks a shift from earlier, more restrained executive comments on job displacement, the Journal notes. While some tech leaders, including those at major AI firms, have downplayed concerns, the escalating warnings signal massive workforce restructurings loom, ready or not.