A HOT POTATO: Concerned that your job could become one of the many lost to AI? According to Apollo Global Management's chief economist, you're worrying about nothing! Torsten Sløk claims that there is "zero evidence" of job losses because of AI, which will likely come as a surprise to the tens of thousands of people who have lost their jobs to AI.
Writing in a post last week titled "Zero Evidence of AI-Related Job Losses," Sløk points to ADP employment data to support his conclusion. The report found that private companies added almost 110,000 people to their payrolls in April.
The executive argues that instead of lowering headcounts, many firms are hiring AI implementation experts.
"The bottom line is that the AI spending boom is stoking both employment and inflation," Sløk writes. "It is Jevons paradox playing out in real time: cheaper technology is creating more demand and more jobs."
There seems to be a sudden spate of claims that AI isn't actually taking people's jobs. OpenAI boss Sam Altman recently said he was "delighted" that his AI jobs apocalypse prediction was wrong. Box CEO Aaron Levie, Dell boss Michael Dell, and Goldman Sachs CEO David Solomon all have similar opinions. The fact that they are heads of companies heavily invested in AI definitely has nothing to do with it.
