AI could wipe out 100M US jobs over the next decade: Senate committee report

Artificial intelligence and automation have the potential to eliminate close to 100 million jobs in the United States within the next ten years, as per a report released by Senate Democrats on Monday.

Based on findings from ChatGPT, the analysis revealed that various fields, both white-collar and blue-collar, could experience job losses due to advancements in technology.

According to the Senate Committee on Health, Education, Labor & Pensions, led by Sen. Bernie Sanders (D-Vt.), AI, automation, and robotics could impact 40% of registered nurses, 47% of truck drivers, 64% of accountants, 65% of teaching assistants, and 89% of fast food workers.

“The agricultural revolution unfolded over thousands of years. The industrial revolution took more than a century,” the report stated. “Artificial labor could reshape the economy in less than a decade.”

Debates surrounding AI regulation have been intensifying in Washington.

The Trump administration has emphasized the importance of the US leading in AI development, citing potential national security risks if China were to dominate the field.

On the other hand, Senate Democrats are advocating for increased regulation within the sector, along with worker safeguards such as a 32-hour workweek and a “robot tax” on companies transitioning to automation.

Amazon and Walmart, two major US companies in terms of revenue, have already cut tens of thousands of jobs through automation initiatives.

In an op-ed for Fox News published on Monday, Sanders cautioned that AI and robotics developed by billionaires could lead to the elimination of millions of well-paying jobs, cost reductions, and profit increases within corporate America.

Sanders highlighted that AI is primarily being utilized to concentrate wealth, pointing to CEOs investing in automation while announcing large-scale layoffs and cost-saving measures.

He also warned of the significant impact on manufacturing workers, as well as drivers in the transportation industry, with the rise of self-driving projects by automakers and tech companies.

“Some of the wealthiest individuals in the world, including Elon Musk, Larry Ellison, Mark Zuckerberg, and Jeff Bezos, are pouring billions into these groundbreaking technologies,” Sanders wrote in his op-ed.

“Why is that? Is it to enhance the quality of life for the majority of Americans struggling to make ends meet? Perhaps. But I have my doubts,” he continued.

“I believe it’s because investing in AI and robotics will exponentially increase their wealth and influence,” Sanders concluded.