Germany’s leading economic advisor, Monika Schnitzer, believes artificial intelligence presents significant opportunities for economic growth and potential wage increases. In remarks to the Redaktionsnetzwerk Deutschland, Schnitzer suggested that AI could enable continued high productivity levels even with a potentially shrinking workforce.
While acknowledging widespread concerns about job displacement, the economist emphasized that AI is unlikely to render all work obsolete. She anticipates a shift in required skills, with a continuing need for human oversight to interpret and effectively utilize AI-generated output. “Tasks that are less desirable may be replaced” Schnitzer stated, citing the increasing prevalence of self-checkout systems in retail as an example, “but this is a natural evolution of the labor market.
Schnitzer also highlighted a potentially advantageous position for younger generations entering the workforce. Due to demographic shifts, young people now possess greater negotiating power than previous generations, like the Baby Boomers, who faced more intense competition for jobs. This allows them to advocate for desired work arrangements, such as remote work options and flexible conditions. The economist suggests this dynamic could reshape the future of work, providing opportunities for improved working conditions across the board.