Are the Robots Going to Take Our Jobs? This Is How American and Hungarian Economists of Generations Y and Z Conceive the Impact of Artificial Intelligence

Abstract

This paper examines how American and Hungarian economists of generation Y and Z view the impact of artificial intelligence (AI) in the short and long term. The choice of topic is motivated by the integration of AI into our everyday lives. Research has been carried out in human resources and social perspectives. Based on the responses of 147 Hungarian and 105 American economists surveyed within the framework of an online, anonymous questionnaire method, a positive vision emerges for young economists. They were confident in the social and economic welfare effects of AI. No significant difference can be found between the thinking of the two generations and the opinion of the nations. The most important conclusion from the empirical results is that AI does not take away the job of economists, but transforms it, and supports to appreciate the virtues of human resources. Accordingly, employers need to develop a shortand long-term action plan to secure their employees’ future.