How AI Could Cause Social Security to Run Out of Money Sooner Than Expected

[Zorro]

Artificial intelligence can perform many tasks. But if it winds up costing millions of Americans their jobs, it wouldn’t just leave a trail of unemployment; it could also weaken Social Security.

So far, AI hasn’t led to widespread job losses or big productivity gains. But the technology has vast potential to both uplift and disrupt the workforce, with ripple effects for Social Security.

One possible scenario is that more jobs are lost than created, hurting the program’s long-term financial health. An estimated 2.5% of U.S. employment is at risk if AI expands across the economy and cuts employment in proportion to productivity gains, according to Goldman Sachs

A shrinking workforce would be the last thing Social Security needs.

https://www.barrons.com/articles/social-security-benefits-fund-ai-584a1203?st=v1qyx5&reflink=desktopwebshare_permalink

[yellow dahlia]

1. important information.

Thanks for sharing, Z.

[markodochartaigh]

2. I heard a caller on Thom Hartmann

mention this a couple of weeks ago. She made the point that corporations using AI to supplant workers should be made to pay into Social Security. I think that it was a brilliant point.

[snot]

4. Actually,

it did not say that an increase in wages was a possible outcome. All it said was that if AI boosted wages and the work force grew, that might help fund SS.

But I've never seen a case made that AI would likely either boost wages or result in an increase in the human work force.