The rapid advancement of artificial intelligence is prompting growing concern about its societal impact, with warnings that the world is largely unprepared for the scale of disruption ahead. Noreena Hertz, an economist and professor at University College London, argues that a critical conversation is urgently needed.
“We need to talk about this,” Hertz stated. “The Netflix series Adolescence showed how young people were using social media; now, we need to demonstrate how AI is being used before we face tragic consequences.” Her comments reflect a broader anxiety about the pervasive, and often unseen, integration of AI into daily life.
Hertz’s concerns are echoed by growing analysis of the potential for widespread job displacement. While some forecasts suggest a modest and temporary impact on employment levels, others warn of more significant shifts in the global workforce. A recent report by Goldman Sachs Research, dated , estimates that unemployment could increase by half a percentage point during the AI transition period as displaced workers seek new positions. The report identifies occupations such as computer programmers, accountants, legal and administrative assistants, and customer service representatives as being particularly vulnerable.
However, the Goldman Sachs analysis also suggests that the impact may be transitory, with new job opportunities emerging as the technology evolves. This optimistic outlook contrasts with Hertz’s more urgent call for preparation, suggesting a divergence in perspectives on the speed and severity of the coming changes.
The potential for job losses is not the only area of concern. Experts are also focusing on the broader societal implications of AI, including its impact on decision-making processes and the potential for bias. Manish Raghavan, a professor at MIT Sloan, emphasizes the importance of incorporating domain expertise when applying AI to different fields. “If we put AI in a medical domain, that’s going to look very different than putting it in an employment domain,” Raghavan explained during a presentation at the MIT AI Conference. “We find different risks and idiosyncratic problems.”
Raghavan’s research highlights the need for careful evaluation of AI models, particularly in creative and competitive settings. He argues that identifying potential risks and new phenomena is crucial as AI becomes more deeply embedded in society. This sentiment aligns with Hertz’s call for a broader public awareness of the ways in which AI is already shaping our lives.
The historical context of technological innovation provides some insight into the potential trajectory of AI. As noted in an article examining the impact of past technologies – from the power loom to digital computers – the consequences of any innovation depend on who makes the pivotal decisions about its development. This is particularly true for AI, given its potential to rapidly spread across all sectors of the economy and aspects of life.
The debate over AI’s impact is further complicated by the fact that the technology is still relatively new. While the release of OpenAI’s ChatGPT in brought generative AI into the mainstream, the long-term consequences remain uncertain. OpenAI CEO Sam Altman himself has acknowledged that jobs will be lost as a result of AI adoption, despite efforts to portray the technology as a supplementary tool.
The recent labor strikes by the Writers Guild of America and SAG-AFTRA underscore the anxieties within creative industries about the threat posed by AI. These strikes brought attention to the potential for AI to displace well-paid jobs, highlighting the need for proactive measures to protect workers.
The question of whether AI will exacerbate or lessen inequality remains open. The historical record suggests that the outcome depends on the choices made by those in positions of power. Ensuring a just and equitable future of work in the age of AI will require a collective effort involving workers, organizers, technologists, economists, and funders, as highlighted in an in-depth article series sponsored by the Ford Foundation.
the future of AI is not predetermined. It is a product of the decisions we make today. As Hertz warns, a failure to address the potential risks and prepare for the coming changes could have “tragic consequences.” The need for a comprehensive and informed public conversation about the societal impact of AI is more urgent than ever.
