AI will undoubtedly eliminate some tasks, but history suggests it will also create entirely new opportunities.

We looked past the AI “doomer” headlines to examine the history of creative destruction. From 1910 to 1970, the agriculture segment shed more than 8m jobs, while employment in newer industries grew by 46m over the same period.

In 1973, the New York Times predicted ATMs would cut bank teller jobs by 75%. Instead, teller employment grew by 81% from 1970 to 1988. After spreadsheets emerged in the late 1970s, bookkeeping roles declined, while accounting surged and modern financial analysis rose to prominence.

In fact, 60% of the jobs that exist today did not exist in 1940 — not in spite of technological change, but because of it.

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