The rapid and unbridled development of artificial intelligence (AI) has the potential to disrupt the US economy in a way that is comparable to the “China shock” that displaced American workers, former US commerce secretary Gina Raimondo warns.
Speaking at the Bloomberg New Economy Forum in New Delhi on Tuesday, she drew parallels between AI’s potential disruption to American jobs and the past impact of Chinese manufacturing competition on the US labour market.
“In America, we’ve seen what happens when we move through an economic transition without planning it … [the] so-called China shock left millions of Americans out of work and it destabilised our country,” Raimondo said.
