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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