Davos Warns AI Could Trigger Mass White‑Collar Job Losses; Therapists Report Rising Anxiety
Business leaders at the World Economic Forum in Davos warned that rapid advances in artificial intelligence could cause significant white‑collar job losses within 6–12 months. Speakers including Larry Fink (BlackRock), Jamie Dimon (JPMorgan), Dario Amodei (Anthropic) and Demis Hassabis (Google DeepMind) highlighted risks to roles such as software engineers, interns and entry‑level analyst positions. Amodei said AI may soon perform nearly all tasks of a software engineer; Hassabis warned early‑career jobs and internships will be affected. The article cites data showing AI was a factor in nearly 55,000 U.S. layoffs in 2025 and an MIT study estimating AI could automate about 11% of U.S. jobs. Therapists report growing patient anxiety and feelings of obsolescence, with a 2025 APA survey finding 38% of workers worry AI will make parts or all of their jobs redundant. Some sectors show resilience: radiologists have integrated AI and employment rose, and skilled trades (welders, plumbers, electricians) face less automation risk and report large labor shortages. Key themes: job cuts, tech sector disruption, psychological impact, and uneven automation risk across industries.
Bearish
The article signals increased short‑term and medium‑term uncertainty for technology and white‑collar sectors—key sources of capital and payroll for the broader economy. Immediate implications for crypto markets: risk‑off sentiment tends to strengthen during waves of job loss and economic anxiety, which can reduce inflows into risk assets including cryptocurrencies, making near‑term price action more volatile and biased downward. Historically, tech‑sector shocks (e.g., major layoffs or regulation fears) have coincided with weaker crypto performance as investors flee risk. Longer term, broader adoption of AI could reduce developer demand in some crypto projects, but could also enable more efficient infrastructure and new on‑chain products; this suggests a mixed structural outlook. For traders: expect higher volatility, tighter risk management, potential short opportunities on sentiment drops, and careful selection of projects tied to developer labor intensity. Monitor macro indicators (tech employment reports, major corporate layoff announcements) and on‑chain flows for positioning cues.