AI will ‘stir the pot,’ but won’t change the game for decades: Mark Zandi

• AI may eventually be a major disruptor in the job market
• High Interest rates will be the biggest risk for companies in the short term
• Businesses adapting to new technology like AI takes time. The effects won't necessarily be apparent in the near future.

Artificial intelligence presents both challenges and opportunities for workers and employees, said Moody's Analytics' chief economist, Mark Zandi.

"If you're able to harness the power of artificial intelligence in your work, you're more productive. You should be able to command a higher wage and benefit from the fact that AI is lifting everyone's productivity for businesses," said Zandi.

However, some employees worry that their job is at risk while companies may leverage the technology to save on labor costs.

Zandi suggested these concerns may be premature. While advances in AI have the potential to change a lot of business practices, the technology is still in the early stages.

"If history is a guide and we look at other game-changing technologies, it does take time for those technologies to be incorporated into business practices," the economist explained. "Generally, it happens over periods of several years, even a couple of decades."

He also said AI will be implemented differently across various sectors of the economy.

"Typical of big technological changes, this is what happens. It kind of stirs the pot, creates winners and losers," Zandi told CNBC.

Watch the video above to see the full interview.