A well-known figure in AI talk says it may not take over as many jobs as some people think.
According to MIT Economist Daron Acemoglu, AI can only do 5% of all jobs, a much smaller percentage than what some other experts on the matter have projected. That number from Acemoglu is estimated for over the next decade.
Entrepreneur and Futurist Peter Shankman says there's no need to worry about losing your job, as long as you're good at it.
"People need to chill out a little bit," he said. "If you're good at your job, your job is safe."
Shankman said AI is simply going to eliminate a lot of procrastinating and allow people to get things done more efficiently.
"In a lot of situations, it's going to accelerate the speed in which we get things done," said Shankman.
Major tech companies continue to dump billions of dollars into AI too. Microsoft and Google recently invested over $6 billion themselves into AI operations. Alphabet, Amazon, Meta and Microsoft platforms invested more than $50 billion into capital spending in the second quarter.
Acemoglu also said there's a possible scenario where these top tech companies and AI users will jobs and pump even more money into AI, leading to some negative impacts on the overall economy. Shankman doesn't believe there will be an AI market crash per se but more of a shakedown.
"We went through the same thing with crypto and the dot com boom in the 2000's so it's going to happen but these things take time," Shankman predicted.