AI could change the world. But first it is changing Silicon Valley.

So far this year, more than 70 tech companies have eliminated at least 40,000 jobs, according to Layoffs.fyi, which tracks job cuts in the industry. — Photo by Hack Capital on Unsplash

SAN FRANCISCO: For years, the big thinkers of Silicon Valley said many industries would be permanently altered by artificial intelligence. Radiologists would be out of jobs. Lawyers would stop writing briefs and contracts. And Wall Street wouldn’t need as many bankers.

It is unclear if those predictions of white-collar doom will come to pass. Unemployment for young people entering the workforce has jumped, but the overall employment picture has not changed very much. Radiologists are still working. Lawyers are still writing contracts, or so they claim. Wall Street bonuses are hitting record highs.