Of course, new jobs will also be created—but not as quickly and not as many, at least at first.
If we are honest with ourselves, a major reason why we are all so excited about AI in the first place—a major reason why AI offers such transformative economic opportunity—is that it will be able to do things more cheaply, more quickly and more accurately than humans can do them today. Once AI can deliver on this promise, there will be less need and less economic justification to employ as many humans as today in most fields. Almost by definition, in order for AI to have an impact on society and the economy, it will take people’s jobs. Of course, new jobs will also be created—but not as quickly and not as many, at least at first.