Fed governor lays out 3 AI scenarios, including one with a giant population of ‘unemployable’ workers

The end may not be near after all. While fears of total automation often dominate public discourse, Federal Reserve Gov. Michael S. Barr suggests that the rise of artificial intelligence could actually help jobseekers and boost the economy.

In a speech to the New York Association for Business Economics on Feb. 17, Barr gave three different scenarios for how AI might reshape the labor market. Describing generative AI as an all-purpose technology, Barr claimed we can see three stylized economic futures.