White House releases report on AI’s potential economic impact

A new report released by the White House examines ways that accelerating artificial intelligence will impact the economy, according to a blog post by Communications Director and Senior Policy Advisor Kristin Lee on WhiteHouse.gov.

The report considers how AI will enable automation of certain tasks in the years to come, potentially disrupting the livelihoods of Americans unless institutions and policies in place update, strengthen and adapt strategies to increase AI benefits and mitigate costs.
According to the report, policymakers should take into consideration the ways AI can grow productivity, shift the job market’s in-demand skills toward higher-level technical competencies, and churn the workforce, redistributing and potentially reducing opportunities for human labor.

With available evidence, specific predictions aren’t possible, so all potential outcomes and whole economy policy responses must be considered.

The report suggests the best strategies for addressing economic transformation including investing in AI benefits, training Americans for future-leaning jobs and aiding workers in transitioning to an automation-enhanced economy. Strategies are explored that take into consideration the roles government, industry, technical and policy experts must play to move the nation’s policies forward in an AI-influenced workforce.

The entire report can be accessed on WhiteHouse.gov.