Economic Leaders Say AI Can’t Replace Intelligent Workers

Artificial intelligence is rapidly becoming a tool that many companies are eager to integrate into their operations.

Can AI replace the human intelligence that drives business success?

According to Forbes, 64% of businesses believe AI can boost productivity, though many workers fear its increasing presence in the workplace could lead to job losses, Yahoo Finance’s Sara Belcher reported.

At the World Economic Forum in Davos, Switzerland, in late January, Yahoo Finance Executive Editor Brian Sozzi asked economic leaders for their perspectives on AI’s role in the workforce.

Morgan Stanley CEO and Chairman Ted Pick views AI as a tool for handling routine tasks, such as note-taking, but believes it cannot replace the human intelligence that drives business success.

“Yes, AI is super important. It brings efficiency to the cost structure and is disruptive to the mainframe. You don’t need to write notes anymore—AI will do it. Twenty hours of note debriefs can be cut down by 80%. But we still need the human orderly. That’s never going to change.”

Nasdaq CEO Adena Friedman echoed this sentiment, emphasizing AI’s potential to eliminate tedious, repetitive work.

“AI can write reports. You provide the facts, and AI generates the report—saving massive amounts of time. The same applies to regulatory reporting. There’s a lot of mundane work that AI can handle.”

However, economist Nouriel Roubini, often referred to as "Dr. Doom," has a more pessimistic outlook. While many believe AI will complement existing jobs and create new roles, he warns that its rapid advancement could outpace job availability.

“There are two views. One is that AI will be complementary to jobs—replacing some but creating new ones. The other is that, over time, AI will replace many jobs, and there won’t be enough new ones to go around. I believe the latter view will prove correct.”