MIT professor Daron Acemoglu predicts AI will replace only 5% of jobs over the next decade, warning of a potential AI crash similar to the early 2000s tech bubble.
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As many fear that AI will disrupt the world we live in today, some believe AI will take over most jobs, leaving Americans jobless and without income in the future. Daron Acemoglu, a renowned professor at the Massachusetts Institute of Technology, stated that AI would only replace about 5% of all jobs over the next decade. Big tech companies have been investing heavily in AI technology and expanding its capabilities. However, with this prediction, these companies may fall short in their goal of reducing the workforce by replacing jobs with AI.
Many overlook the need for data storage centers, as NVIDIA CEO Jensen Huang stated that nearly $1 trillion is needed from companies and governments to upgrade these centers to fully utilize AI’s capabilities. The professor believes an AI crash is likely, similar to the tech bubble that occurred in the early 2000s. While investors continue to ride the AI wave, many are cautious about when this bubble might burst.
