7. AI will produce mass unemployment

(Callie, https://www.the-sun.com/tech/8293960/artificial-intelligence-wiping-jobs-chatgpt/)

In May alone, artificial intelligence was the reported reason behind nearly 4,000 job cuts, according to data compiled by Challenger, Gray & Christmas. The executive outplacement firm found that 3,900 job losses were due to AI, while 19,598 was due to businesses closing. Two months earlier, Goldman Sachs estimated that AI systems could potentially replace upwards of 300 million full-time jobs. “If generative AI delivers on its promised capabilities, the labor market could face significant disruption,” the March report reads. “Using data on occupational tasks in both the US and Europe, we find that roughly two-thirds of current jobs are exposed to some degree of AI automation, and that generative AI could substitute up to one-fourth of current work.”