Former Google CEO ‘absolutely convinced’ AI will create 'huge jobs shortage'

By Business LeadersFOXBusiness

Former Google CEO Eric Schmidt on the impact of AI on jobs

Former Google CEO Eric Schmidt, former Google Senior Vice President Jonathan Rosenberg and Google Executive Communications Director Alan Eagle on Bill Johnson's impact on leadership in Silicon Valley, the leadership strategy at Google and the impact of artificial intelligence on the economy and job market.

Former Google CEO Eric Schmidt and Tesla CEO Elon Musk are on the same page when it comes to creating and executing ethical AI systems that won’t harm humans. Now, the “whole industry” is on board because it will be so efficient that economic growth will explode, he told FOX Business on Tuesday.

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“I'm absolutely convinced that there's going to be a huge job shortage,” he told Maria Bartiromo on Tuesday. ”And by that I mean not enough people to fill the jobs that are open because of this.”

“There's no question that it's disruptive,” he added. ”This is not a job killer. This is a job creator.”

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Last year, Musk declared that AI was more dangerous than nuclear weapons and called for regulatory oversight, during the South by Southwest tech conference.

But Schmidt said “this is not nuclear.”

“This stuff is capable of making everything we do more efficient, clearer, better algorithms, more productive in the same way that the personal computer did. This has taken over our whole industry in terms of machine learning, better business algorithms,” he said.

In Schmidt’s opinion, AI can help businesses stay competitive.

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