The US has minimal regulatory oversight while Europe has implemented the Data Protection Act, GDPR, and AI Act to align with labor standards. A study indicates Europe and Asia experience the highest exposure to AI, impacting jobs amidst a skilled labor shortage. Many tech layoffs result from a transition to AI, as seen in Klarna's case. Although AI replaces certain jobs, it may also elevate the value of others. EU regulations are expected to influence how AI affects employment and employee rights in the future.
In many ways, it's too early to tell where the AI wave will take us - we've only seen a fraction of its capabilities so far, which is equal parts exciting and terrifying.
It's very clear that AI will definitely replace some jobs; on the other side of the coin, I think it will make some other jobs far more valuable.
The company's CEO admitted to having made a mistake when replacing workers with AI.
Labour laws and regulations in the EU will shape the impact of AI on jobs, potentially leading to a future that benefits both workers and businesses.
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