ANZ CEO Warns AI Could Trigger Global Labor Crisis

Nuno Matos, the Chief Executive Officer of ANZ Group Holdings Ltd., warned that the absence of global regulation for artificial intelligence could trigger an international labor market crisis. Speaking during a parliamentary hearing in Canberra on Thursday, Matos stated that large-scale job cuts of up to 50% could lead to widespread societal trouble.

Matos advocated for the implementation of global rules to manage the impact of AI on employment. He argued that such regulation is necessary to ensure society does not face instability, noting that the resulting crisis would not be limited to Australia but would be a global phenomenon.