New York City's top fiscal watchdog is warning that artificial intelligence could dramatically reshape the city's economy and eliminate thousands of jobs if officials fail to prepare for rapid technological change.
AI Job Loss Warning In New York City On Thursday, New York City Comptroller Mark Levine released a report outlining multiple scenarios for AI's economic impact, ranging from strong growth to significant job losses.
Levine cautioned that city leaders are underestimating the scale of disruption ahead.
"Despite the impossibly high stakes for us as we stare down the radical transformation ahead, New York City—economic and cultural colossus—is doing almost nothing to prepare," Levine wrote.
He added that the city is "sleepwalking into the age of AI." The report, based on Moody's Analytics data, projected outcomes including a best-case scenario of stock market gains of up to 9% and 1% annual growth in office jobs through 2030.
