Roubini Says AI and Robots Are Coming For Your Jobs

Summary

Nouriel Roubini warns that AI and robots will replace a large share of jobs over the next two decades, rendering higher retirement ages an inadequate solution. He sees a need for universal basic income and notes that higher growth could ease debt-to-GDP ratios but fiscal challenges remain.

• AI and robots are expected to displace a large portion of the workforce within 20-25 years.
• Raising the retirement age will not solve long-term structural unemployment.
• Universal basic income is eventually needed as a policy response.
• Higher potential growth could improve debt-to-GDP ratios, but fiscal conditions still require action.