Can GDP grow while jobs disappear? Economists weigh in on what Singapore's AI push must get right

Economic growth alone will not create jobs, economists said on Monday (Feb 2) as they weighed in on recommendations from the recent Economic Strategy Review update and what Singapore needs to get right in its artificial intelligence push. Economic growth and job creation are often treated as synonymous, but it is worth separating the two, said Prof Nick Powdthavee, associate dean of NTU’s CoHASS. Prof Powdthavee noted that in general, the link between growth and employment weakens when growth is accompanied by rising inequality. He also noted that although AI excels at some tasks, it still makes mistakes and can be biased in ways that are not always obvious.

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