Home Technology peripherals AI Is unemployment anxiety unnecessary? Deutsche Bank: Learning from history, AI will create more jobs

Is unemployment anxiety unnecessary? Deutsche Bank: Learning from history, AI will create more jobs

May 26, 2023 pm 04:02 PM
ai unemployment anxiety job creation

After ChatGPT became popular, there was a surge of talk about AI replacing humans. Two months ago, Goldman Sachs even stated in a report that the AI ​​revolution could replace 300 million white-collar jobs in Europe and the United States, with legal and administrative jobs being the most affected. Architects and engineers are also in danger of being eliminated.

However, Jim Reid, Deutsche Bank’s global head of research, disagrees with this view. In a recently released report, he stated that History has proven that AI will eventually create rather than destroy jobs, and that the AI ​​wave will create more jobs than the jobs it replaces.

Reid pointed out that fear and resistance to new technologies are the norm in human history.

In 1589, William Lee invented a knitting machine, which he believed would free millions of housewives from the heavy needlework. Queen Elizabeth I ultimately rejected the patent application, fearing that granting a patent for the knitting machine would put textile workers out of work.

Queen’s name:

"Your invention will turn all my poor subjects into beggars."

With the advent of the industrial revolution, the conflict between people and technology has become more intense.

At the beginning of the 19th century, British workers launched the Luddite Movement, which specialized in destroying machines. Unemployed workers gathered into gangs, burned and smashed machines that symbolized progress in an organized and disciplined manner, and forced employers to make concessions through violence.

Similar situations will be repeated later with every major technological breakthrough.

However, Reid believes that history tells us that in the long run, new technologies will not lead to job losses.

Reid pointed out that the unemployment data of G7 countries (seven major developed economies) show that the unemployment rate mainly fluctuates with the economic cycle and has minimal correlation with technological revolution. The median unemployment rate in the G7 countries is 3.8%, compared with 5% in Britain during the First Industrial Revolution in 1755.

Is unemployment anxiety unnecessary? Deutsche Bank: Learning from history, AI will create more jobs

He wrote:

"So even if all the jobs in 1755 ceased to exist and some tasks were replaced by machines, it would not lead to an ever-increasing spiral of unemployment."

Reid concluded:

Technology will always bring about the creation of wealth and time, extend the liberation of the labor force, replace more productive positions, and also bring about many unexpected industries and positions. ”

However, Reid’s analysis may have ignored the social unrest and unemployment that will occur in a short period of time after major technological changes. Although they will bring great impact to society and families, their consequences have been lost in the average number of history.

Although admits that the speed of development of AI technology and the types of jobs it replaces may be different from any technological revolution in history. But Reid's conclusion is still optimistic:

While there may be disruption in the labor market in the short term, the potential for harnessing AI to boost productivity is something we urgently need. This, in turn, will soon create more opportunities, jobs and wealth for society. ”

The above is the detailed content of Is unemployment anxiety unnecessary? Deutsche Bank: Learning from history, AI will create more jobs. For more information, please follow other related articles on the PHP Chinese website!

Statement of this Website
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

Video Face Swap

Video Face Swap

Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Tools

Notepad++7.3.1

Notepad++7.3.1

Easy-to-use and free code editor

SublimeText3 Chinese version

SublimeText3 Chinese version

Chinese version, very easy to use

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

SublimeText3 Mac version

SublimeText3 Mac version

God-level code editing software (SublimeText3)

Which of the top ten currency trading platforms in the world are the latest version of the top ten currency trading platforms Which of the top ten currency trading platforms in the world are the latest version of the top ten currency trading platforms Apr 28, 2025 pm 08:09 PM

The top ten cryptocurrency trading platforms in the world include Binance, OKX, Gate.io, Coinbase, Kraken, Huobi Global, Bitfinex, Bittrex, KuCoin and Poloniex, all of which provide a variety of trading methods and powerful security measures.

Decryption Gate.io Strategy Upgrade: How to Redefine Crypto Asset Management in MeMebox 2.0? Decryption Gate.io Strategy Upgrade: How to Redefine Crypto Asset Management in MeMebox 2.0? Apr 28, 2025 pm 03:33 PM

MeMebox 2.0 redefines crypto asset management through innovative architecture and performance breakthroughs. 1) It solves three major pain points: asset silos, income decay and paradox of security and convenience. 2) Through intelligent asset hubs, dynamic risk management and return enhancement engines, cross-chain transfer speed, average yield rate and security incident response speed are improved. 3) Provide users with asset visualization, policy automation and governance integration, realizing user value reconstruction. 4) Through ecological collaboration and compliance innovation, the overall effectiveness of the platform has been enhanced. 5) In the future, smart contract insurance pools, forecast market integration and AI-driven asset allocation will be launched to continue to lead the development of the industry.

Bitcoin price today Bitcoin price today Apr 28, 2025 pm 07:39 PM

Bitcoin’s price fluctuations today are affected by many factors such as macroeconomics, policies, and market sentiment. Investors need to pay attention to technical and fundamental analysis to make informed decisions.

How to use the chrono library in C? How to use the chrono library in C? Apr 28, 2025 pm 10:18 PM

Using the chrono library in C can allow you to control time and time intervals more accurately. Let's explore the charm of this library. C's chrono library is part of the standard library, which provides a modern way to deal with time and time intervals. For programmers who have suffered from time.h and ctime, chrono is undoubtedly a boon. It not only improves the readability and maintainability of the code, but also provides higher accuracy and flexibility. Let's start with the basics. The chrono library mainly includes the following key components: std::chrono::system_clock: represents the system clock, used to obtain the current time. std::chron

Recommended reliable digital currency trading platforms. Top 10 digital currency exchanges in the world. 2025 Recommended reliable digital currency trading platforms. Top 10 digital currency exchanges in the world. 2025 Apr 28, 2025 pm 04:30 PM

Recommended reliable digital currency trading platforms: 1. OKX, 2. Binance, 3. Coinbase, 4. Kraken, 5. Huobi, 6. KuCoin, 7. Bitfinex, 8. Gemini, 9. Bitstamp, 10. Poloniex, these platforms are known for their security, user experience and diverse functions, suitable for users at different levels of digital currency transactions

How much is Bitcoin worth How much is Bitcoin worth Apr 28, 2025 pm 07:42 PM

Bitcoin’s price ranges from $20,000 to $30,000. 1. Bitcoin’s price has fluctuated dramatically since 2009, reaching nearly $20,000 in 2017 and nearly $60,000 in 2021. 2. Prices are affected by factors such as market demand, supply, and macroeconomic environment. 3. Get real-time prices through exchanges, mobile apps and websites. 4. Bitcoin price is highly volatile, driven by market sentiment and external factors. 5. It has a certain relationship with traditional financial markets and is affected by global stock markets, the strength of the US dollar, etc. 6. The long-term trend is bullish, but risks need to be assessed with caution.

What are the top ten virtual currency trading apps? The latest digital currency exchange rankings What are the top ten virtual currency trading apps? The latest digital currency exchange rankings Apr 28, 2025 pm 08:03 PM

The top ten digital currency exchanges such as Binance, OKX, gate.io have improved their systems, efficient diversified transactions and strict security measures.

Which of the top ten currency trading platforms in the world are among the top ten currency trading platforms in 2025 Which of the top ten currency trading platforms in the world are among the top ten currency trading platforms in 2025 Apr 28, 2025 pm 08:12 PM

The top ten cryptocurrency exchanges in the world in 2025 include Binance, OKX, Gate.io, Coinbase, Kraken, Huobi, Bitfinex, KuCoin, Bittrex and Poloniex, all of which are known for their high trading volume and security.

See all articles