Thomas Siebel said at the World Economic Forum’s annual meeting in Davos, Switzerland, that artificial intelligence is the fastest growing area of the information technology industry in the last 40 years. told.
The U.S. labor market remains strong after a historically tight year over the past year, but recent comments from prominent economist Larry Summers suggest that robust payrolls This suggests that intelligence may eventually become a thing of the past.
Former Treasury Secretary Larry Summers speaks at a New York Economic Club event on May 16, 2018. (Mark Kauzlerich/via Bloomberg/Getty Images)
March employment data released on Friday was better than expected, employers added 303,000 jobs Last month, the unemployment rate gradually declined to 3.8%. Demand for labor shows no signs of slowing down, despite months of solid employment growth following the Federal Reserve’s aggressive interest rate hike campaign.
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Kevin Mahn, president and chief information officer (CIO) of Hennion & Walsh Asset Management, cited two areas of concern in the strong March jobs report on “The Big Money Show.”
But over time, AI will replace human workers in nearly every job, said Summers, a former U.S. Treasury secretary and current OpenAI board member who spoke at Fortune’s Innovation Forum in Hong Kong last week. Told.
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“If we look to the next generation, this could be the biggest event in economic history since the Industrial Revolution,” Summers said. “This opens up the possibility of replacing not just some forms of human labor, but almost all forms of human labor.”
Sen. Mike Braun (R) offers insight into the growing fear of technology on “Evening Edit.”
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Citing several examples, he predicted that “AI will replace doctors making difficult diagnoses before it replaces nurses’ ability to hold patients’ hands when they are frightened.”
FOX Business’ Megan Henney contributed to this report.
