AI will drive job growth, not layoffs, economists argue

Economists argue AI will create jobs, not just eliminate them, citing lower labor costs boosting demand and expanding markets. This perspective, championed by Apollo chief economist Torsten Slok, suggests AI's efficiency gains will lead to new roles and higher pay, similar to past technological shifts. While some companies cite AI for layoffs, particularly in software, Slok believes overall job growth will outpace losses, with new opportunities emerging in AI-adjacent fields.