The highest unemployment rate during the great depression was 24%. The knockon effects of almost 12% of the ecconomy losing work will make that pale in comparison. But hey, this 12% is probably just at the beginning. After all, AI is the worst it will ever be.
This seems like a recipe for guillotines or UBI. Wonder wich the rich will choose?
Edir: was he the first of many?
The issue is that a lot of times, the "value" these executives bring is not with their managerial, decision making skills. It's their status, industry recognition, and social connections. How can AI replace that?
If the other companies also have AI executives then they will be more comfortable talking to each other in that AI language