Leading Economist Cautions That White-Collar Workers May Experience Their Own 'Detroit Auto Worker' Moment as AI Starts to Replace Cognitive Roles | Intellectia.AI
Leading Economist Cautions That White-Collar Workers May Experience Their Own 'Detroit Auto Worker' Moment as AI Starts to Replace Cognitive Roles
Written by Emily J. Thompson, Senior Investment Analyst
AI's Impact on White-Collar Jobs: Economist Justin Wolfers warns that artificial intelligence is poised to replace cognitive jobs, marking a significant shift from previous technological revolutions that primarily affected blue-collar workers.
Call for Empathy and Policy Change: Wolfers emphasizes the need for empathy towards white-collar workers facing job displacement and advocates for better policy responses, drawing parallels to the struggles of Detroit auto workers in the 1970s.
Significant Job Cuts Announced: Major companies, including Amazon and UPS, have announced substantial layoffs, with Amazon cutting nearly 30,000 jobs and UPS increasing its job cut estimate to 48,000.
Market Response to AI Developments: Despite employment concerns, AI-linked ETFs are showing positive performance, with several funds experiencing significant year-to-date gains, indicating investor interest in technology-driven sectors.
Wall Street analysts forecast QTUM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for QTUM is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
0 Analyst Rating
Wall Street analysts forecast QTUM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for QTUM is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 117.910
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Current: 117.910
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
