AI-Driven Job Losses Could Leave Workers with Meager Wages

Economist Justin Wolfers has warned that artificial intelligence could lead to widespread job loss and exacerbate income inequality. In an interview, he stated that AI could eventually eliminate most jobs, leaving workers competing for wages 'two pennies an hour above subsistence' while developers like OpenAI grow infinitely rich.

Wolfers argued that companies like OpenAI, Anthropic, Alphabet Inc., and Microsoft Corp. 'created a few lines of code,' while society as a whole provided the knowledge that these AI models were trained on. He noted that this knowledge was created by society without being compensated for it.

'They forgot to ask,' Wolfers said, adding that 'we live lives of grinding misery while OpenAI gets infinitely rich as the only productive force in the economy.'