Howard Marks, co founder of Oaktree Capital, warned that AI’s rapid rise poses a terrifying threat to jobs over the next several years. He argued that productivity gains overshadow the serious economic and social fallout of mass job displacement. Marks also cautioned that the debt driven AI boom could worsen economic and political divisions across the United States.
00:00One of Wall Street's most respected investors, Howard Marks, is sounding the alarm about artificial intelligence.
00:07In a new memo, he said the outlook for jobs over the next several years is nothing short of terrifying as AI accelerates faster than the economy can adapt.
00:16Marks argued that most conversations about AI focus on productivity and profits while ignoring the social cost.
00:22He questioned how a stronger economy can exist if millions of workers lose their jobs and, with them, the income that keeps consumer spending alive.
00:31According to Marks, the danger goes beyond layoffs.
00:34He warned that the combination of rapid job displacement and massive debt fueling the AI boom could deepen economic and political divides across the United States, creating a crisis far larger than Wall Street expects.
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