<2> Viral Doomsday Report Lays Bare Wall Street’s Deep Anxiety About AI Future <3>
< p> A 7,000-word “doomsday” thought experiment from Citrini Research helped trigger an 800-point drop in the Dow, “painting a dark portrait of a future in which technological change inspires a race to the bottom in white-collar knowledge work,” reports the Wall Street Journal.
From the report: Concerns of hyperscalers overspending are out. Worries of software-industry disruption don’t go far enough. The “global intelligence crisis” is about to hit. The new, broader question: What if AI is so bullish for the economy that it is actually bearish? “For the entirety of modern economic history, human intelligence has been the scarce input,” Citrini wrote in a post it described as a scenario dated June 2028, not a prediction. “We are now experiencing the unwind of that premium.”
Many of Monday’s moves roughly aligned with the situation outlined by Citrini, in which fast-advancing AI tools allow spending cuts across industries, sparking mass white-collar unemployment and in turn leading to financial contagion. Software firms DataDog, CrowdStrike and