'Jobless boom' | Federal Reserve chief warns rapid AI adoption could leave many 'essentially unemployable'

Federal Reserve Governor Michael S. Barr has warned that artificial intelligence could produce a “jobless boom” that sidelines large segments of the workforce, even as productivity accelerates.

Speaking to the New York Association for Business Economics, Barr described three possible labor market outcomes as generative AI embeds itself in the workplace. While current indicators suggest gradual integration, he warned policymakers against complacency.