As workers worry about AI, Nvidia’s Jensen Huang says AI is ‘creating an enormous number of jobs’

Jensen Huang, the CEO of Nvidia, believes that American workers should not worry about the potential of AI to displace jobs. In a discussion with MSNBC’s Becky Quick on Monday night, hosted by the Milken Institute, Huang expressed that AI is a creator of jobs at an industrial scale, countering the notion often suggested by “AI doomers” that AI will lead to widespread unemployment.

Throughout the conversation, various topics were discussed, but the focus remained on the economic concerns surrounding the AI industry and whether Americans should be genuinely apprehensive. Quick remarked, “This is happening so quickly. Is there a bigger dislocation than we’ve seen in the past that leads to greater inequality? And what do we do about that?”

Huang maintained an optimistic perspective, asserting, “AI creates jobs,” and described AI as the United States’ prime chance to re-industrialize. He explained that the AI sector is fueled by a new type of industrial factories, which manufacture the essential hardware for the AI market. These factories, alongside the growing AI industry, require a workforce.

Huang argued that automating a particular task does not equate to replacing an entire job. He suggested that some people “misunderstand that the purpose of a job and the task of a job are related” but not identical. He implied that even if AI assumes a specific task within a role, the overall function that an employee fulfills within a company is likely to persist.

Huang also criticized those who claim AI will dominate humanity or decimate large economic sectors. He voiced concern that spreading such science fiction narratives might scare people to the extent that AI becomes unpopular in the United States, deterring engagement with it.

Ironically, much of the “doomer” narrative has been propagated by the AI industry itself. Critics argue that this exaggeration serves as a marketing tactic to generate buzz and excitement for products that do not match the capabilities implied by such rhetoric.

The long-term effects of AI on the economy remain uncertain. However, respected financial and academic institutions have predicted that up to 15% of jobs in the U.S. might be eliminated in the coming years due to AI advancements.