Bunge: AI is everywhere now, but how does it affect monetary policy

One lesson we can learn from history is that old jobs tend to be replaced by new ones over time, but that the transition can often be difficult for the people in the occupations being automated. In the case of AI, developments so far suggest that young people may be particularly affected, but at the same time find it easier to adapt to new conditions than older people, said Ms Bunge. "However, companies seem to be following the 'no hire, no fire' principle. They are not laying off young people in vulnerable jobs, but nor are they hiring those new to the labour market."