large and robust negative effect
Artificial Intelligence Is Killing Jobs, Will Have 'Large And Robust Negative Effects' On Labor Market: Study
Politicians like President Donald Trump often demonize trade deals and undocumented immigrants for their suspected downward pressure on labor and job supply, but a study published Tuesday by the National Bureau of Economic Research indicated that the economic threat of artificial intelligence may be far more serious. With the introduction of one robot per 1,000 workers, the percent of the population employed could drop by between 0.18 and 0.34 percentage points, while wages could fall by between a quarter and a half of a percentage point, according to the study, by researchers at the Massachusetts Institute of Technology and Boston University. That may not sound like much, but, for perspective, Amazon.com The fast food restaurant Wendy's announced plans in February to install ordering kiosks at 1,000 of its stores by the end of 2017. Even stock market traders aren't immune, as investment management firm BlackRock Inc. has recently begun to shift its trade decision-making toward algorithmic and robotic stock pickers.