AI Companies Are Becoming The New Monopsonists That Will Control Work

AI Companies Are Becoming The New Monopsonists That Will Control Work
forbes.com

by Erik Sherman • 2 months ago

AI companies are emerging as new monopsonists, concentrating purchasing power and potentially driving down wages in various job sectors. As automation replaces numerous professions, including white-collar jobs, the impact on employment could be severe. While some argue that new jobs will emerge, the lost positions are unlikely to be replaced in similar numbers. Without effective national policy, the focus on AI's potential dangers diverts attention from the immediate economic threats posed by corporate interests.

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