New York official warns AI could cost city thousands of jobs
Key takeaways
- Comptroller Mark Levine laid out scenarios the city will face tied to future impacts of AI on the economy and job market in a new report shared by his office on Thursday
- Despite the impossibly high stakes for us as we stare down the radical transformation ahead, New York City — economic and cultural colossus — is doing almost nothing to prepare, Levine wrote.
- In the best-case scenario, the stock market could surge by 9 percent, and the number of office job openings could increase by 1 percent annually between 2025 and 2030.
Why this matters: political developments that affect policy direction and public trust.
Comptroller Mark Levine laid out scenarios the city will face tied to future impacts of AI on the economy and job market in a new report shared by his office on Thursday
Despite the impossibly high stakes for us as we stare down the radical transformation ahead, New York City — economic and cultural colossus — is doing almost nothing to prepare, Levine wrote. We are sleepwalking into the age of AI.
In the best-case scenario, the stock market could surge by 9 percent, and the number of office job openings could increase by 1 percent annually between 2025 and 2030. On the most dire and unlikely end, this new tech boom could cost the private sector a loss of around 110,000 jobs in 2027, according to the report.