CNN
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The chief executive of one of the world's leading chip makers warned that artificial intelligence can significantly increase workplace productivity, but could lead to unemployment if the industry lacks innovation.
“If the world runs out of ideas, productivity increases will lead to unemployment,” Nvidia CEO Jensen Huang said in an interview with CNN's Fareed Zakaria. Dario Amodei, a fellow technical leader who suggested that AI will cause mass employment disruptions.
Amody, the head of humanity, warned last month that the technology could cause a dramatic spike in unemployment in the very near future. He told AXIOS that AI could eliminate half of the entry-level white-collar jobs and eliminate Spike's unemployment by up to 20% over the next five years.
Huang believes that as long as companies come up with fresh ideas, there is room for productivity and employment to flourish. But without new ambitions, he said, “productivity will be reduced.”
“The basic thing is, do society have more ideas left? And if that's the case, if we're more productive, we can grow,” he said.
The rise in AI investment, which has driven a massive technology boom in recent years, has raised concerns about whether technology will threaten future employment. A 2024 survey by staffing agency Adecco Group found that around 41% of chief executives say that AI will reduce the number of workers in thousands of companies over the next five years. A survey released by the World Economic Forum in January shows that 41% of employers are planning to reduce their workforce by 2030 due to AI automation.
“Whose jobs are affected. Some jobs are lost. A lot of jobs are created and what I want is that the productivity gains seen in all industries will grow society,” Huang said.
With its market value shortly at $4 trillion, Nvidia is one of the leading companies AI revolution. The technology from a chipmaker based in Santa Clara, California, is used for data center power centers used by companies such as Microsoft, Amazon, and Google to operate AI models and cloud services.
Huang defended the development of AI, saying, “In the last 300, 100, 60 years, in the age of computers,” and improving both employment and productivity. He added that technological advancements can help to realize “a wealth of ideas” and “how to build a better future.”
Artificial intelligence can also change the way you work. A 2024 survey by Duke University and the Federal Reserve Bank of Atlanta and Richmond found that more than half of the largest U.S. companies will automate tasks that employees have done previously, including suppliers and bills they have done previously.
Huang said even his work changed as a result of the AI revolution. “But I'm still at work.”
Some companies also use AI tools such as ChatGpt and Chatbots for creative tasks such as drafting job posts, press releases, and building marketing campaigns.
“AI is the biggest technology equalizer we've ever seen,” says Huang. “It lifts up people who don't understand technology.”
Fareed Zakaria's interview with Nvidia CEO Jensen Huang can be seen on “Fareed Zakaria GPS” on Sunday at 10am ET/PT.
