You've got a proposal with Senator Josh Holly uh that would require some data collection around the impact of AI job losses in America. So I guess two questions to start with you. One is how can you possibly count what an AI job loss is.And then secondly, why do you want that data in the first place. >> Well, I mean one, thanks for the opportunity to be here and it's great to come after my friend Glenn Hutchkins. I know he was talking about this subject.Um you're right. We've got to get a data set. you both ...

AI and Job Displacement Concerns - AI is expected to transform the economy, eliminating jobs, particularly entry-level positions, while creating new ones downstream [1] - Recent college graduate unemployment is currently at 9%, and could rise to 25% if no action is taken [1][7][11][18][19] - Big banks are already cutting internship programs and hirings by 50%, with further cuts planned for next year [4] Proposed Solutions and Responsibilities - A bipartisan bill is introduced to require companies and the federal government to report AI-related job data, including losses, to the labor department [1] - The AI community should contribute to and help design retraining programs to bridge the gap between job losses and the creation of new AI-centric jobs [1][2][4][8][9][13] - The AI community should acknowledge the level of job dislocation and work with the government on solutions [2][4][8][9][13] Funding and Contribution Models - The AI community should make a contribution to address job dislocation, potentially through a public-private initiative [10][13][14] - The contribution could come from various entities, including those using AI (e.g., big banks) or those providing AI technology (e.g., large language model providers, chip manufacturers) [15] - The discussion revolves around whether this contribution should be mandatory (a tax) or voluntary [10] Government and Industry Collaboration - Government's response should involve working with the AI community to design job training and retraining programs [8][13][18] - Historical job retraining programs, such as the Trade Assistance Act in the early 1990s, were not effective [3][13] - Engaging with the AI community at the front end of the transformation is crucial to creating effective solutions [13] Data and Reporting - Good data on AI-related job losses is essential to understanding the situation and informing policy [1][7] - Reporting requirements should apply to everyone engaged in AI, not just tech companies [15] - The use of data should be transparent, and concerns exist that if it's perceived as being used for a tax, companies may be less honest in their reporting [6][10] AI's Broader Impact - AI is expected to bring significant benefits and a productivity boom across various industries [16][17] - The benefits of AI should accrue to all of industry, potentially leading to increased profits and profit margins for companies [17] - Redistribution of profits through taxes is a consideration [17][18] Federal vs State Regulation - There is a debate on whether AI regulation should be at the federal or state level [20][21] - A single national standard with preemption around AI is favored by some, but others believe state pressure is needed to prompt Congressional action [21]