CEO of Nvidia, Nvidia, the leading chipmaker, Jensen Huang, believes that artificial intelligence (AI) will significantly increase workplace productivity, but the impact on employment will ultimately depend on the rate of innovation within the industry.
He said in an interview with CNN's Fareed Zakaria that “if the world runs out of ideas, increased productivity will lead to unemployment.”
Huang's comments came in response to concerns from tech leader Dario Amodei, who warned last month that AI could lead to a dramatic surge in unemployment, potentially eliminating 20% of unemployment over the next five years.
More ideas, more opportunities
However, Huang argues that as long as new ideas are emerging, there is plenty of space for both productivity and employment to flourish.
He argued that without fresh ambitions, he would “decrease productivity” and potentially lack jobs. “The fundamental thing is this. Are there more ideas left in society? And if that's the case, if we're more productive, we can grow,” he said.
The recent surge in AI Investments, which has driven a massive tech boom, has actually sparked concerns about job safety in the future.
A 2024 survey by Adecco Group found that around 41% of CEOs expected AI to cut their workforce over the next five years.
Similarly, a January survey from the World Economic Forum showed that 41% of employers planned to reduce their workforce by 2030 through AI automation.
“Whose jobs are affected. Some jobs are lost. Many jobs are created. And what I want is that the productivity gains seen in all industries solve society,” Huang explained.
AI as an “equalizer”
Having achieved a market value of $4 trillion, Nvidia is at the forefront of the AI revolution, using technology power data centers used by technology giants such as Microsoft, Amazon and Google for AI models and cloud services.
Huang defended the development of AI, claiming that historic technological advances have consistently led to an increase in both employment and productivity. He believes that AI can promote “a wealth of ideas” to build a better future.
According to a 2024 survey by Duke University and Federal Reside Banks, AI is expected to change the way jobs are completed.
Huang pointed out that even his work has changed due to AI, but he “still does my job.”
He concluded by highlighting the accessibility of AI, calling it “the greatest technology equalizer I've ever seen.”
