A doomsday scenario from a small research firm this week warned that artificial intelligence tools may lead to a sharp rise in unemployment. The report from Citrini Research circulated widely on social media, unnerving investors by imagining what would happen if AI continues to upend white-collar work from well-heeled professionals missing mortgage payments to being forced to find work as Uber drivers. While the researchers called the report a "scenario, not a prediction" and analysts pushed back against it, the research got a second wind Thursday, Feb. 26, when Square and Cash App operator Block said it would slash nearly half its workforce — more than 4,000 employees — as AI reshapes its business.
The mass layoffs signal how the rapidly developing technology is displacing workers in some parts of the economy, likely fueling fears that AI is coming for more American jobs.
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