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Bloomberg
Artificial intelligence is coming for the service economy, according to Allstate Corp. CEO Tom Wilson.
“It’s going to rip through this economy like a tsunami,†Wilson said in an interview on Bloomberg TV from Aspen, Colorado.
Automation will affect a wide swath of workers, from traders to taxi drivers. McKinsey & Co. estimates that more than 400 million people worldwide could be looking for work by 2030 because technology took their jobs.
That change has already come to the auto-insurance business. Allstate has cut 550 auto adjusters because technological advancements made their jobs unnecessary. They all found jobs elsewhere, Wilson said.