The exchange for the debt economy
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Charlie Scharf, CEO of Wells Fargo, has questioned the way business leaders frame the debate about AI’s impact on employment.
Speaking at a Bernstein investor conference, Charlie says the conversation is more complex than many portray it to be. Business leaders remain divided on whether the technology will boost productivity and improve work conditions or eliminate roles entirely.
“I find it very surprising when really smart people take one side or the other,” he tells attendees at a Bernstein investor conference. “They sit there and they say, ‘it’s not a threat to employment,’ or they sit there and say, ‘it’s a huge threat to employment.'”
Charlie says his observations within Wells Fargo show both outcomes could occur simultaneously.
“It’s so obvious to me, looking at the way we’re using AI inside the company, it is both of those things. The risk is that they’re not totally aligned, in terms of the same people and the timing of it.”
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