Howard Marks says AI is going to have a 'terrifying' impact on employment — and it goes well past lost paychecks (www.businessinsider.com)

Howard Marks, co-founder of Oaktree Capital Management, has expressed deep concerns about the "terrifying" effects of artificial intelligence (AI) on the workforce, highlighting not just the potential loss of jobs but the erosion of meaning and purpose that work provides. In his recent blog post, Marks emphasized that while discussions around universal basic income (UBI) suggest a financial solution to job displacement, they fail to address the intrinsic values of work—self-worth, social connection, and a structured daily routine. He fears that people receiving financial support without engaging in productive roles may face existential crises devoid of purpose. Estimates indicate that AI could impact around 60% of jobs in advanced economies, with a significant portion being positively affected but many others facing obsolescence. Marks' perspective aligns with the views of experts like Kate O'Neill and James Barrat, who warn that the increased reliance on AI might strip away our capacity to derive meaning from our experiences. As AI reshapes the nature of work, influential figures emphasize the need for the next generation to develop skills that machines cannot replicate, such as critical thinking and emotional intelligence, preparing for a future where job titles may evolve rapidly in response to changing technological landscapes.