Part 7/10:
He emphasizes that today's economic adjustments are part of a natural cycle—companies becoming leaner and more efficient after the COVID-19 pandemic, which saw historic levels of worker hoarding. The current phase involves reducing excess labor, with the expectation that companies can rehire workers when needed.
The Impact of AI and Automation on the Workforce
A significant portion of the discussion revolves around artificial intelligence’s evolving role in the economy. Conn views AI as a transformative force that will continue its gradual integration into various industries. He notes that AI is already helping companies cut operational costs by automating tasks traditionally performed by humans, such as coding and HR functions.