Nvidia Corp. NVDA CEO Jensen Huang expressed his concerns about the potential job losses that could result from the widespread adoption of artificial intelligence (AI).
What Happened: Huang warned that the increasing use of AI could lead to job losses if industries fail to innovate, during an interview with CNN’s Fareed Zakaria. He emphasized that the key to maintaining employment in the face of AI is the continuous generation of fresh ideas.
“If the world runs out of ideas, then productivity gains translate to job loss,” said Huang.
He also referenced comments made by Dario Amodei, the CEO of Anthropic, who had previously warned of potential mass employment disruptions due to AI.
Despite these concerns, Huang believes that as long as companies continue to innovate, there is potential for both productivity and employment to thrive. He also defended the development of AI, stating that it has historically led to an increase in both employment and productivity.
Why It Matters: The potential impact of AI on employment has been a topic of debate in the tech industry. In May, billionaire entrepreneur Mark Cuban challenged concerns raised by Anthropic’s CEO, arguing that AI will create more employment opportunities than it eliminates. Huang’s recent comments add to this ongoing conversation, highlighting the importance of continued innovation to mitigate potential job losses due to AI.
Price Action: NVDA shares closed the Friday market session 0.50% higher at $164.92 per share as per Benzinga Pro Data
Benzinga Edge Stock Rankings shows Nvidia stock has exceptional growth potential (98.61). Additional performance details are available here.
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