Operation Hope CEO Warns of AI’s Economic Impact and Calls for Urgent Upskilling
John Hope Bryant, the CEO of Operation Hope, is sounding the alarm on the transformative, and potentially disruptive, effects of artificial intelligence. Speaking at CNBC’s CONVERGE LIVE in Singapore, Bryant emphasized the urgent need for governments and the private sector to invest in workforce upskilling to mitigate the risks of job displacement and ensure broad economic prosperity.
Bryant presented a stark warning: the rise of AI will fundamentally reshape society, affecting nearly every aspect of life.
“What people don’t realize is that literally everything we see is going to be touched by artificial intelligence. It’s a complete do-over of society,” he stated.
His concerns center on the likelihood of widespread job losses, particularly for individuals at the lower end of the economic spectrum. He highlighted the automation of tasks, pointing to examples such as convenience store and grocery store positions, and the potential for AI to further exacerbate existing inequalities.
“We are not spending nearly enough time focusing on the bottom of the pyramid,” Bryant said. He fears that without proactive measures, individuals with limited education and resources will be left behind. Bryant predicted that without investment in upskilling initiatives, the world will “pass you by” in just a few years.
To address these challenges, Bryant advocated for governments to create tax policies that encourage business to create apprenticeship and internship programs. Additionally, he suggested expanding financial literacy and entrepreneurship in schools.
Bryant draws a comparison to the shift from horse-drawn carriages to automobiles, suggesting a similar rapid transformation.
“It’s like the horse and buggy of 1850 in America … when the automobile was introduced … within 10 years, the horse was made irrelevant.”
He emphasized that addressing these issues is integral to addressing the United States’ debt, which currently exceeds $36.2 trillion. Increasing productivity among the working and middle classes, in ways that benefit everyone, is key to the future. Bryant suggests the economy could expand by 3-4 percent annually.
Bryant noted that focusing on the economic empowerment and upskilling could prevent social unrest, and ultimately provide a larger future by having people with a “participation in the future.”
