No One Actually Knows How AI Will Affect Jobs

Forget artificial intelligence breaking free of human control and taking over the world. A far more pressing concern is how today's generative AI tools will transform the labor market. Some experts envisage a world of increased productivity and job satisfaction; others, a landscape of mass unemployment and social upheaval. Someone with a bird's-eye view of the situation is Mary Daly, CEO of the Federal Reserve Bank of San Francisco, part of the national system responsible for setting monetary policy, maintaining a stable financial system, and ensuring maximal employment. Daly, a labor market economist by training, is especially interested in how generative AI might change the labor market picture.