“What we've seen through past cycles of automation is that something like 85% of automation-related job losses happen in the first year of recessions.”

AI project is, which I've just kickstarted, is actually looking at the impact of AI on jobs. Everybody else is doing that. But there is one difference I think that's not coming up in the conversations, which is people are tracking what the effect is on what's happening to jobs right now with the advent of AI. But what we've seen through past cycles of automation is that something like 85% of automation-related job losses happen in the first year of recessions. So there's a sense in which there's like a latent buildup of the fact that a pool of workers who, when there's a recession and you're in cost-cutting mode, companies lay off and then you have jobless recoveries. We saw that after the great financial crisis. So with my co-authors, I am working on trying to understand to see what we can do right now in terms of tracking what that latent pool could look like. But I'm also interested in AI and financial markets and frictions and so on. And the last thing that I'm doing is I'm launching a global economics lab at Harvard with the mission to help advance an international economic order that benefits people everywhere. I mean, the way I see it is that we're at obviously a historic time in terms of the global economy, big transformations, shifts to protectionism, geopolitics, AI. Because now economics and politics are kind of getting a bit intertwined, I think it's harder for other institutions and multilateral institutions to be able to do full justice to the big questions that we face. And I think independent researchers have a role to play here. And so that's what I am investing in.