Artificial Intelligence: The Risk of Taking Over the Human Job Market

The 2025 Nobel Prize in Economics winner has warned that AI offers extraordinary possibilities but needs to be tightly regulated due to the risk of “taking over” all human job opportunities.

On October 13, Professor Peter Howitt - one of the three winners of the 2025 Nobel Prize in Economics , warned that artificial intelligence (AI) brings extraordinary capabilities but needs to be tightly managed due to the risk of "taking over" all human job opportunities.

The comments come amid growing concerns about the impact of AI on society and the labor market.

Speaking at a press conference, Professor Howitt emphasized that AI is a wonderful technology with incredible potential. However, it is undeniable that AI has the ability to take over and replace highly skilled workers or make many traditional jobs disappear. Accordingly, the Canadian professor affirmed that this is a conflict of interest that needs to be regulated to ensure the interests of the whole society.

AI is now seen as a major turning point in human history, comparable to previous technological revolutions such as the advent of electricity, steam engines or the telecommunications boom in the 90s of the last century.
According to Professor Howitt, history has proven that technology not only replaces labor but also increases labor efficiency if properly exploited.

Professor Peter Howitt is currently an honorary professor at Brown University (USA). He is one of three economists honored by the Royal Swedish Academy of Sciences for his research on the role and impact of technology on economic growth.

On the same day, California Governor Gavin Newsom signed into law a pioneering bill to regulate interactions with AI chatbots. This move comes despite pressure from the White House to let this technology develop unchecked too soon.

In another development, Professor Joel Mokyr of Northwestern University (USA) - one of the three winners of the 2025 Nobel Prize in Economics - expressed optimism about the prospect of AI taking over the labor market. According to him, machines do not replace humans, they only bring people to more interesting and challenging jobs.

Technological change does not simply eliminate old jobs, but also creates new tasks. Mr. Mokyr emphasized that the biggest challenge for the labor market in the future is the labor shortage due to aging populations and a shrinking labor force, rather than the situation of “technological unemployment”./.

(TTXVN/Vietnam+)

Source: https://www.vietnamplus.vn/tri-tue-nhan-tao-nguy-co-thau-tom-thi-truong-viec-lam-cua-con-nguoi-post1070231.vnp