RALEIGH, N.C. (WPTF) — Artificial intelligence has the potential to make our jobs easier and significantly boost productivity and spur economic growth as well as disrupt the labor market and increase income inequality, according to North Carolina State University economist Dr. Michael Walden.

He discussed both the opportunities and challenges that AI presents – especially for workers and industries in North Carolina – during a recent episode of Carolina Newsmakers, hosted by Don Curtis. Walden acknowledged that AI has the potential to benefit both businesses and consumers alike.

 “We’re looking at AI increasing efficiency in a variety of sectors, from manufacturing to services. The key is that AI allows us to do things faster and often at a lower cost,” Walden said.

However, Walden was quick to point out the potential disruption AI could cause in the labor market. He also suggested that education and retraining would be critical in addressing the challenges posed by AI. He advocated for policies that focus on upskilling workers, particularly those in industries most susceptible to automation.

“We need to think about how we prepare the workforce for these changes. Education, specifically in areas like technology and engineering, is going to be vital,” Walden pointed out. “Those who have the skills to work with AI will be in demand and see their wages rise, while others could face stagnant or declining wages.”

You can listen to the entire interview with Dr. Michael Walden on this week’s Carolina Newsmakers, available on Curtis Media Group stations and other affiliates across the state.