Raghuram Rajan: Will AI spell a job scarcity? It’s time for policymakers to begin scenario planning
Consider, for example, a future in which a few differentiated platforms (say, Anthropic or Meta) reach a level of generalized AI that allows them to outpace the competition and steadily charge user firms high prices. These dominant platforms would generate enormous profits, augmenting the incomes of their employees (who will be few, because AI will cull their ranks) and their shareholders.
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