AI could eliminate half of all entry-level white-collar jobs within the next five years — and overall unemployment potentially spiking between 10 and 20% during that period.
The prediction comes as new data from venture capital firm SignalFire shows Big Tech companies have already reduced their hiring of new graduates by approximately 50% compared to pre-pandemic levels, with AI adoption cited as a contributing factor. Amodei told Axios that AI companies and government officials are “sugarcoating” the risks of mass job displacement in technology, finance, law, and consulting sectors.
