AI's Creative Destruction: An Economic Lesson
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The recent AI boom proved creative destruction is real. ChatGPT shifted job categories overnight.
Writers saw rates plummet. But tech shocks redistribute jobs, don't just destroy
them. UK saw spikes in AI prompt engineering and data annotation.
Unemployment didn't skyrocket. Labor markets adapted fast. Government responded with retraining and updated
digital skills. Companies embracing AI gained 40% productivity, creating new demand. Workers are more
adaptable; markets clear faster than predicted. The economy isn't static. It's constantly evolving.
Understand this to navigate future changes better.
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