The hairy effects of artificial intelligence have been fodder for thrillers and science fiction, white papers and Silicon Valley Substacks — and now a report from New York City’s comptroller, who argues that the city’s economy is on track to be transformed by the technology.
The city must move swiftly to prepare for the job losses that may result, the comptroller, Mark Levine, warned in the report, which was released on Thursday morning. The report marks the first major effort by city officials to engage with the looming question of what A.I. will mean for New York’s future.
“There is no city in America — and perhaps none on earth — more exposed to both the promise and peril of artificial intelligence than New York City,” the report said.
The report outlines five scenarios, which range from rosy to dire, and assigns each one a probability of occurring.
At the sunniest end of the spectrum, A.I. could boost the stock market 9 percent annually and the number of available office jobs nearly 1 percent, over the period between 2025 and 2030; on the darker side, it could cause the private sector to lose roughly 110,000 jobs in 2027.
The most likely scenario in New York City, according to the report, is one in which A.I. moderately boosts jobs and economic growth, leading the private sector to add an average of 52,000 jobs per year between 2025 and 2030.
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