TechFlow, November 6 — World Economic Forum (WEF) President Borge Brende said on Wednesday that global financial markets may face three potential bubbles warranting worldwide attention. During a visit to São Paulo, Brazil's financial hub, Brende stated, "We could see bubbles emerging in the future: one in cryptocurrencies, one in AI, and one in debt." He added that government debt levels are now higher than at any time since 1945. Brende noted that while AI holds great promise for boosting productivity, it could also threaten numerous white-collar jobs. "In the worst case, we might see phenomena similar to the 'Rust Belt' in major cities—particularly those with large concentrations of back-office and white-collar workers whose jobs are more susceptible to AI replacement," he said. He cited recent announced layoffs by companies such as Amazon and Nestlé as evidence of this trend. (Jinshi)
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