Federal Reserve Governor Michael S. Barr warns of a potential “jobless boom” driven by AI, where widespread automation could render a significant portion of the population unemployable. He outlined scenarios ranging from mass layoffs to a stalled AI industry, emphasizing the need for society to be nimble and bold in managing these potentially painful transitions. Federal Reserve Governor Michael S. Barr warns of a potential “jobless boom” driven by AI, where widespread automation could render a significant portion of the population unemployable. He outlined scenarios ranging from mass layoffs to a stalled AI industry, emphasizing the need for society to be nimble and bold in managing these potentially painful transitions.
