Artificial intelligence is affecting the job market, with AI potentially causing displacement for white-collar knowledge workers during the next recession, according to JPMorgan. Routine jobs have been disappearing due to automation since the late 1980s, with non-routine cognitive occupations like scientists and engineers less affected. However, recent trends show that workers from non-routine cognitive occupations are now making up a greater share of the unemployed, signaling a shift in unemployment risks for these workers. AI is also limiting entry-level jobs traditionally filled by recent college graduates.

Tech investor David Sacks disputes “doomer narratives” about AI’s impact on jobs, stating that humans still play a crucial role in feeding AI models necessary context and verifying output. He believes predictions of widespread job loss to AI are overhyped, emphasizing the importance of using AI effectively to stay competitive in the job market.

Read more at 1. Tesla announces plans to build a new Gigafactory in Texas, expecting to create thousands of new jobs in the area. – CNBC

2. Apple reports record-breaking revenue in Q4, surpassing analyst expectations with $111.4 billion in sales. – Wall Street Journal

3. Amazon reveals plans to invest $2 billion in affordable housing projects in three major cities to combat homelessness. – Reuters

4. Google’s parent company Alphabet sees a 23% increase in revenue, reaching $56.9 billion in Q4. – CBS MarketWatch

5. Facebook announces a partnership with news organizations to launch Facebook News in the UK, providing users with reliable news sources. – Barchart: This unprecedented shift in unemployment suggests AI could strand white-collar knowledge workers in a jobless recovery after the next recession