Unemployment and labor markets: disruptions from AI?

This #UBSCenterForum panel, including Prof. Dorn, Christine Antlanger-Winter (‪@Google‬ Switzerland), Valerio Capraro (‪@bicocca‬), and Jan-Egbert Sturm (‪@ethzurich‬), tackled the complexities of AI’s impact on the labor market. Christine Antlanger-Winter highlighted a study by Google projecting that generative AI could boost Switzerland’s GDP by CHF 80–85 billion annually, enhancing productivity in 66% of jobs, particularly in healthcare and finance, but warned that delayed adoption could reduce this potential to just 3%. Prof. David Dorn reiterated that AI is unlikely to cause mass unemployment, as past technological advancements have consistently created new jobs and upskilled workers, though addressing biases in AI systems is essential to prevent reinforcing societal inequities, especially in hiring and decision-making. Prof. Valerio Capraro affirmed Dorn’s statement, stating that AI often inherits and amplifies biases from training data, making it difficult to address them without creating new ones. Prof. Jan-Egbert Sturm offered a cautious perspective, noting that while AI could help address demographic challenges and drive sectoral shifts, its overall economic impact may be modest, with productivity gains potentially offset by increased administrative demands.

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