Disrupted by AI

It seems there are no limits to the potential for AI-induced disruption. Yesterday, the press reported that Sam Altman, CEO of OpenAI, was seeking up to USD 7 trillion to “reshape the business of Chips and AI.” For reference, worldwide semiconductor sales totaled just under USD 527 billion in 2023. Separately, according to Microsoft’s recently published New Future of Work report, 55% of global LinkedIn members will be impacted by generative AI. Technology, media and financial services professions are the most at risk of disruption, according to the study. Innovation has long reshaped industries and workers, although as we noted in another Daily Sketch, Jevons Paradox, new technology often results in an increase in demand for various resources, including staff.

Source: Microsoft, January 2024.