AI threatens labour’s share of income, research finds
AI could increase inequality and social unrest, Philadelphia Fed paper argues
Labour’s share of income could permanently decline due to changes in artificial intelligence (AI), says research published by the Federal Reserve Bank of Philadelphia.
As AI gains ground in cognitive tasks, it could unleash a wave of newly automated tasks, displacing human labour.
AI will transform, not replace, jobs overall, they argue, but they say that the conclusion that it will not completely displace human labour “misses the point”. The likely reduction in labour’s share of income in the
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