More than 70 per cent of Americans already think AI is developing “too fast”. As the technology becomes more powerful and trillions of additional dollars are spent on its infrastructure, the anxiety will only intensify.
In time, the technophobia could be seized upon by populists, who might echo the anti-immigration rhetoric and manufacturing nostalgia that have shaped politics over much of the past decade. Slogans such as “human jobs first” and policy proposals ranging from AI taxes to sector-specific bans may soon become widespread.
Most fears centre on the prospect of bots replacing jobs. This worry is most prevalent in advanced economies, where a greater share of economic activity comes from services and knowledge-intensive occupations. These roles tend to be more exposed to AI disruption. Gen Z is concerned that AI is already reducing its access to entry-level jobs in professional services, while Goldman Sachs estimates that 300mn jobs worldwide could be exposed to automation over the coming decade.