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Artificial intelligence could cost millions of jobs. The White House says we need more of it

Artificial intelligence could cost millions of jobs. The White House says we need more of it | Edumorfosis.Work | Scoop.it
The White House report comes exactly one month before President-elect Donald Trump is sworn into office, meaning Obama will need his successor to execute on the policy recommendations. That seems unlikely to happen, especially as far as unemployment protections are concerned. Congressional Republicans already aim to curtail some existing entitlement programs to reduce government spending.

Rolling back Social Security protections for out-of-work families “would potentially be more risky at a time when you have these types of changes in the economy that we’re documenting in this report,” Jason Furman, the chairman of the Council of Economic Advisers, said in a call with reporters.

Research conducted in recent years varies widely on how many jobs will be displaced due to artificial intelligence, according to the report. A 2016 study from the Organization for Economic Cooperation and Development estimates that 9 percent of jobs would be completely displaced in the next two decades. Many more jobs will be transformed, if not eliminated. Two academics from Oxford University, however, put that number at 47 percent in a study conducted in 2013.
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