Bloomberg Surveillance · Wednesday, July 1, 2026
Lindsey Piegza discusses the potential impact of Artificial Intelligence on the labor market, highlighting the dual nature of AI as a driver of productivity and efficiency for businesses, but also a source of job displacement. Piegza cites analysis suggesting AI could displace around nine million jobs this year alone, posing significant long-term disruptive factors for both current and future labor market participants. She notes the uncertainty surrounding whether AI will be labor-augmenting or labor-replacing, with the latter having a more lasting negative impact.
“But what we do know is that when we look at it from a top line perspective, there's no doubt that AI is driving higher productivity efficiency. That's the gain, that's the benefit for businesses. But when we talk about potentially displacing millions upon millions of jobs. In fact, taking a middle of the road analysis, there's an expectation of displacing about nine million jobs this year alone, We cannot underappreciate then the longer term disruptive factors that this will have in the labor market, both for current and future labor market participants.”
“But again, the forecast span across the gambit, we really don't know at this point how this is going to play out.”