Gen Z used to embrace AI. Now most young adults fear it will steal their jobs.
As new college grads face elevated rates of unemployment, concern about AI’s impact on jobs is spiking among young Americans.
A growing sense of unease about artificial intelligence is emerging among young adults, particularly Gen Z, who are now worried that AI will displace them in the workforce. This shift in sentiment is notable given the initial enthusiasm with which many in this age group once greeted AI technology. The concern is likely linked to the current job market, where new college graduates are facing higher-than-usual unemployment rates.
The fear that AI will steal jobs is not entirely unfounded. Automation and AI have already begun to transform various industries, and many tasks that were previously performed by humans are now being handled by machines. In the lending industry, for example, AI-powered systems are increasingly being used to evaluate creditworthiness, process loan applications, and even interact with customers. While these advancements can bring greater efficiency and accuracy, they also raise concerns about job displacement.
As the job market continues to evolve, it's essential to watch how the lending industry and others adapt to the growing presence of AI. Lenders will need to balance the benefits of automation with the need to preserve human jobs and skills. Additionally, policymakers and educators may need to consider new strategies for preparing workers for an AI-driven economy, such as providing training and upskilling programs that focus on developing skills that complement AI technology.
Originally reported by marketwatch.com. LendingNews adds analysis for finance & markets readers.