Signs that artificial intelligence is weighing on the job market are continuing to creep into the data, offering clues on how AI could play a role the next time the economy slips into a downturn. Businesses have historically leaned on automation during recessions, and AI could hit white-collar knowledge workers especially hard, JPMorgan warned.
Businesses trying to do more with less have historically leaned on automation during recessions, but the advent of generative AI could scramble the typical pattern of winners and losers when the next downturn strikes.
While white-collar knowledge workers have previously not suffered from severe recession-induced layoffs or jobless recoveries, the next time could be different, JPMorgan senior U.S. economist Murat Tasci said in a note Tuesday.
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