‘We’ve given them the short end of the stick’: Business school dean says AI could eliminate many jobs for young people—even as they lead innovation
The dean of innovation at the University of Michigan warns that AI could significantly reduce job opportunities for young people, despite their role in driving innovation. He notes that companies are primarily using AI for efficiency, which may eliminate entry-level positions. Young workers may need to seek out innovative companies to thrive in the evolving job market.
- ▪Jeff DeGraff stated that society has not adequately prepared young people for the AI transition.
- ▪He highlighted that 5.6% of recent college graduates aged 22 to 27 are unemployed, compared to 4.2% across all workers.
- ▪Job postings for early-career positions are down 2% from last year and 12% from pre-pandemic levels.
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Artificial intelligence has inspired visions of a near-utopian future: cures for cancer, breakthroughs in space, and even a world where money matters less. But the people who will experience that future the most may also be the ones most harmed by it now.Recommended Video Speaking at Fortune’s Workplace Innovation Summit on Wednesday, the dean of innovation and professor at the University of Michigan’s Ross School of Business Jeff DeGraff admitted young people are increasingly driving the newest forms of innovation—often outside traditional corporate structures. “Look to young people, they’re creating federations of meaning, they’re trying to cure river blindness in these loose affiliations, they’re creating walkways for animals,” he told Fortune C-Suite and Leadership Editor Ruth Umoh.
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