Raimondo Warns AI Disruption Could Mirror 'China Shock' Job Losses
At the Bloomberg New Economy Forum held in New Delhi on Tuesday, Gina Raimondo, the former U.S. Secretary of Commerce, raised alarms about the disruptive potential of artificial intelligence on the economy and job landscape. She likened the anticipated impact of AI to the significant economic shifts caused by increased Chinese imports, known as the "China shock." Raimondo emphasized the importance of strategic planning to address these changes instead of mere reactive measures. She warned that unaddressed transitions could lead to widespread unemployment, urging policymakers to act proactively to mitigate potential economic fallout.
Key facts
- Gina Raimondo is the former US commerce secretary
- She spoke at the Bloomberg New Economy Forum in New Delhi on Tuesday
- She warned AI risks could repeat the 'China shock' that cost jobs
- She said the US must prepare for economic and labour market disruption from AI
- She compared AI disruption to the impact of Chinese manufacturing competition on the US labour market
- She said the so-called China shock left millions of Americans out of work
- She said the China shock destabilised the country
- She said the US moved through an economic transition without planning it
Entities
Artists
- Gina Raimondo
Institutions
- Bloomberg New Economy Forum
- US Commerce Department
- South China Morning Post
Locations
- New Delhi
- India
- United States
- China