According to Mujagic, it is estimated that in the next seven to eight years, around 70% of companies worldwide will use some form of artificial intelligence in their operations. “It is therefore obvious to expect that this will boost economic growth,” he says.
According to Mujagic, the research institute Center for Economic Policy Research in London predicts further growth of 4 to 6 percentage points for the global economy over the next decade. ‘That’s quite something. Because if the world economy grows by around 3-4 percent, then we’re talking about a very good year.’
Mass unemployment
At the same time, a report was also published which, according to Mujagic, states that 300 million jobs in the world will disappear due to AI. “There are two camps,” says the macroeconomist. “One camp argues that it can offer a lot of growth, but without new jobs, which would lead to significant unemployment. The other camp thinks that many jobs will disappear, but that many new jobs will emerge that don’t exist yet.”
Mujagic even believes in the emergence of millions of new jobs. “It is therefore good for economic growth and does not lead to mass unemployment, which would also be very difficult in the next decade because you have an aging population and the fact that labor is becoming increasingly scarce.”
Mujagic underlines the important role of the government in this ‘new’ time. “The government must ensure that people suffer as few negative consequences as possible during this transition. In this new world of artificial intelligence, I see a very important role for government to properly guide that transition.’
Keep learning
But, he underlines, ‘continuing to learn is also a duty’. “That way you avoid having your job jeopardized and you may be able to make a change.”