Fed's Barr Sees Possibility of Short-Term Labor Disruptions from AI
Dow Jones
Yesterday
1026 ET - The rise of artificial intelligence could bring about serious short-term disruptions in the labor market, Fed governor Michael Barr says at an event at Yale University. The extent of that disruption, should AI prove capable of displacing humans, would depend on society's reaction, he says. It would need to invest in new job creation and worker training, connecting workers to new jobs and otherwise mitigating adverse effects for the long term, Barr says. "Now is the time for society to begin to consider how to address these potential challenges - while AI adoption is in its relatively early stages," he says.
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