- Former New York Mayor Michael Bloomberg says "technology is giving the consumer a much better product."
- But he adds: "We have to find ways for companies to create jobs as well as profits."
Michael Bloomberg says he doesn't see artificial intelligence "taking over the world" but he does worry about the technology eliminating jobs. "I do worry about a lot fewer jobs [being] available," the former New York mayor told CNBC on Tuesday.
"We have to retrain people where their businesses go away and jobs go away."
Still, he added, "technology is giving the consumer a much better product — much cheaper, much faster, more alternatives — but at the expense of fewer workers, and we have to find ways for companies to create jobs as well as profits."
And as much as AI is a useful tool, it will never replace human judgment, he said. "In the end ... you get down to having human beings making decisions," said Bloomberg.
Businesses like his Bloomberg News will continue to rely on human resources to build relationships and connect with their customers. "Technology may let us talk together, and share information together, and analyze a few things together, but I wouldn't worry about going away from human decisions," he said.