Is AI a Job Killer or Just a Job Mover?
Recent news stories are stirring fears that AI will lead to massive job losses. A striking example is JPMorgan’s decision to utilize an internal AI platform, Proxy IQ, for managing proxy votes, effectively sidelining traditional proxy advisers. This leads us to ponder:
- Will AI replace jobs or simply change them?
- How does historical context, like that of Almon Stowger, inform our view on automation?
Key Insights:
- Automation Potential: AI has the ability to reduce the need for some outsourced functions, but it opens the door for hiring skilled employees from those very firms.
- Company Interests: Businesses seek efficiency while aligning tasks with their core strategies.
While fear of AI is prevalent, remember: it might not erase jobs but rather redefine them.
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