AI will spark 'violent task churn' in the economy, but even optimists may be underestimating the productivity boom, JPMorgan says

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The history of technological innovations going back more than 200 years demonstrates that while certain industries endured major disruption, overall employment saw net gains. The AI revolution will be no different, according to JPMorgan.

In a note last month, Jacob Manoukian, U.S. head of investment strategy for JPMorgan Private Bank and Wealth Management, traced the transformations brought about by the advent of the steam engine, electricity, and computers.