New York City's economy is projected to continue its growth in 2025, driven largely by advancements in artificial intelligence (AI). The city is experiencing an AI transformation with over 2,000 startups and 40,000 workers contributing to a booming tech ecosystem. The report by the city's Economic Development Corporation highlights the positive economic outlook, noting that New York City has successfully recovered from the pandemic and remains a magnet for young talent.
New York City ’s economy will continue to grow in 2025, powered in part by a revolution in artificial intelligence technology, or AI, according to a new
"The fundamentals of New York City's economy today are stronger than they have ever been," Kimball said. Job creation in the city’s tech sector grew by 72% from 2013 to 2023, according to the report. It acknowledged that some local jobs “could be displaced by AI” in the coming years, but added that “for every job that gets displaced by AI, between four and 10 jobs might be augmented by AI.”by the consultancy McKinsey that the adoption of AI and other technologies would help add 200,000 net jobs to the New York City region by 2030. The report did not specify where AI would displace workers.
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