Torsten Slok, chief economist at Apollo Global Management, said the artificial intelligence boom is creating jobs rather than destroying them [1].
This assessment challenges the prevailing fear that automation will lead to mass unemployment. If AI continues to fuel growth without displacing workers, it could shift the global economic trajectory toward higher productivity and expanded labor demand.
Slok said that current labor market data show no signs of AI-driven job losses [2]. He said that artificial intelligence is fueling job creation rather than eliminating positions [1]. According to Slok, there is zero evidence of AI-related job losses [2].
This perspective aligns with views from other industry leaders. Jensen Huang, CEO of Nvidia, said the narrative that AI is destroying jobs is false, adding that software engineers are busier than ever [3].
The growth in employment suggests that AI is currently acting as a tool for augmentation rather than a total replacement for human workers. While some specific tasks may be automated, the resulting efficiency often creates new roles, or increases the demand for existing professional services [1].
Apollo Global Management continues to monitor these trends to determine if the labor market will eventually hit a tipping point. For now, the data indicates that the AI transition is expanding the workforce [2].
“"We see zero evidence of AI‑related job losses."”
The assertion that AI is a job creator suggests the economy is in a 'complementary' phase of technological adoption. Instead of replacing entire roles, AI is likely increasing the output of workers, which in turn drives company growth and the need for more staff. This counters the 'substitution' theory and implies that the primary risk to workers may be skill obsolescence rather than a total lack of available positions.
