Citrini Report Author Maps Out Playbook for Dealing With AI

Artificial intelligence may significantly displace workers and disrupt consumption-driven economies like the US in the near future, according to Alap Shah, co-author of a Citrini Research report that fueled a scare-trade selloff, and who is now calling for an AI tax to cushion job losses.

Governments should consider taxing incremental or windfall gains from AI, Shah, chief investment officer at Lotus Technology Management, said in a Bloomberg TV interview. Without it, rising unemployment will hit consumption, with the US likely among the most affected. Shah sketched out a scenario where 5% of white-collar workers could be cut within 18 months.