DiNapoli calls for corporate transparency on AI-driven job losses
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New York State Comptroller Thomas DiNapoli is calling for major corporations to be more transparent about the impact of artificial intelligence on their workforces. DiNapoli warns that without greater transparency, investors cannot fully evaluate whether workforce changes are part of sustainable growth strategies or short-term cost-cutting measures.
New York State Comptroller Thomas DiNapoli is pressing major corporations to disclose more information about how artificial intelligence (AI) is affecting their workforces. Companies are failing to provide clear information about AI's impact on hiring, layoffs, and long-term growth. Research suggests AI could significantly disrupt employment, particularly for entry-level workers, with up to half of entry-level white-collar jobs potentially at risk. DiNapoli has urged companies in the state pension fund's portfolio to disclose detailed information about layoffs, retraining efforts, and AI governance strategies. The rapid pace of AI adoption raises concerns about companies' and workers' ability to adapt, with potential implications for economic stability. Without greater transparency, investors cannot assess long-term risks associated with AI-driven workforce changes.
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