I think it's clear to me that AI will be both things: 1) as in the article it's a contraction of work- industrialization getting rid of hand-made work or the contraction of all things horse-related when the internal combustion engine came around but- it will also be 2) new technologies and ideas enabled by a completely new set of capabilities The real question is if the economic boost from the latter outpaces the los…
Cost cutting has less uncertainty than making something new, so they do that first. If something else comes along, then great.
This is also why the people should make the transition as difficult as possible for companies doing layoffs when the companies are paying proportionally very little in taxes compared to the people they are laying off.