Why AI will not lead to a world without work
The deflationary impact of technology, including AI, will boost incomes and drive new spending and jobs rather than cause technological unemployment.
Philipp Carlsson-Szlezak is BCG's Global Chief Economist and a Managing Director and Partner in the firm's New York office. He leads the Center for Macroeconomics at the BCG Henderson Institute and is a coauthor of Shocks, Crises, and False Alarms: How to Assess True Macroeconomic Risk (Harvard Business Review Press, 2024).
Philipp previously was Chief Economist at Sanford C. Bernstein where he covered the economy for institutional investors across the asset management industry. Earlier in his career, he spent more than ten years advising financial institutions and governments at BCG, the OECD, and McKinsey & Company.
Philipp's research covers structural, cyclical, and firm-level themes, and he advises clients on tactical and strategic global macro topics. He is a regular contributor to Harvard Business Review, Fortune, and other business publications.
Philipp has a B.Sc. in economics from LSE and a Ph.D. from the University of Oxford.
The deflationary impact of technology, including AI, will boost incomes and drive new spending and jobs rather than cause technological unemployment.
技术对生产率增长的影响一直以来都被夸大了。分析人士是否会在生成式人工智能上重蹈覆辙?生产率的巨大转变是由降低成本驱动的。虽然生成式人工智能可以做到这一点,但不应夸大其对宏观经济可能产生的影响;随着成本领先者获益,许多公司将成为输家,但随着技术推动价格下降,真正的赢家将是消费者。
While Generative AI has the potential to impact the economy significantly, its true impact is still uncertain and should not be overstated.
We should not overstate the current gloom around high inflation nor let it stand in the way of framing fiscal policy and financing green investment.
Something is stirring at the microeconomic level but extrapolations to the macroeconomy are treacherous.
Technology fuels productivity growth but tight labour markets provide the spark. Governments must see such market conditions as a risk and an opportunity.