IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-3-030-77271-0_7.html
   My bibliography  Save this book chapter

The AI Displacement Risk

In: The Financial Storm Warning for Investors

Author

Listed:
  • Jeff Camarda

    (Family Wealth Education Institute)

  • Steven James Lee

    (California State Polytechnic University)

  • Jerusha Lee

    (Claremont Graduate University)

Abstract

This chapter discusses potential future economic risks to workers’ livelihoods. One of the greatest potential economic risks in the next ten years may be artificial intelligence. It is likely that in the next five years alone up to two million jobs will be replaced by machines. There is a clear economic risk of lost income and the transformation of economic activity as people suddenly lose jobs and must switch careers to obtain a new one, replete with reeducation, retraining on the new job, and all the associated costs. These lost jobs are not just low-income workers, like grocery store clerks. Surgeons, lawyers, financial advisors, and journalists could all potentially be on the chopping block with the expansion of artificial intelligence and the consequent industry automation as the 21st century unfolds.

Suggested Citation

  • Jeff Camarda & Steven James Lee & Jerusha Lee, 2021. "The AI Displacement Risk," Springer Books, in: The Financial Storm Warning for Investors, pages 67-71, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-77271-0_7
    DOI: 10.1007/978-3-030-77271-0_7
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-3-030-77271-0_7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.