AI Weekly predictions on jobs, $1 trillion market values

Added: 2026-05-27

[00:00:00]From predictions on how AI will hit jobs to two $1 trillion market values, this is AI weekly. Open AI's Sam Olman said the rapid development and adoption of AI won't lead to a so-called jobs apocalypse and that it hadn't claimed as many white collar jobs as he'd feared.

[00:00:20]Speaking at a Sydney conference, he said he'd been right about technological predictions when launching Chat GPT in 2022, but admits he was wrong on AI's near-term social and economic impact. It comes, however, as a growing number of major global companies like Amazon and HSBC announced some jobs are being replaced by AI. Meanwhile, Anthropics Chris Ola warned that AI development cannot be left solely to technology companies. AI development is concentrated in a handful of wealthy nations.

[00:00:53]How will we ensure that the gains of AI are shared globally? We do not have a mechanism for this. It is an unsolved problem.

[00:00:59]>> Speaking at the Vatican, the Claude AI maker urged greater oversight of the technology from religious leaders, governments, and civil society. Unlike Oldman, Ola said there was a real possibility that AI would displace human labor at a very large scale. If that happens, supporting those displaced will be a moral imperative of historic proportions.

[00:01:20]>> The event marked an unusual convergence between the technology sector and the Catholic Church. US President Donald Trump on Thursday said he'd postponed signing an executive order on AI because he didn't like certain aspects of it.

[00:01:33]>> I think it gets in the way of uh you know, we're leading China, we're leading everybody, and I don't want to do anything that's going to get in the way of that lead. We have a very substantial order.

[00:01:44]>> Sources told Reuters the order would create a voluntary framework for AI developers to engage with the US government before the public release of advanced models. And the tech industry feared that the order's provisions could hurt industry profits if it slowed the roll out of new models. Trump had planned to sign the order at a ceremony on Thursday afternoon attended by CEOs of AI companies. On Tuesday, the S&P 500 and NASDAQ hit record closing highs.

[00:02:12]That's as AI fueled optimism offset anxiety over Middle East peace talks.

[00:02:17]Semiconductor stocks, which have surged on AIdriven demand, led gains with Micron hitting $1 trillion in market value for the first time. There's a renewed confidence in AI trade which has driven US equities higher with investors now turning their attention to IPOs of some of the largest private AI companies including SpaceX. A day later, SKH topped $1 trillion in market value for the first time. It joined memory chip rivals Micron and Samsung Electronics in reaching the milestone on an AIdriven rally. Shares of SKH Heinik's closer session up 9.3% after rising almost 15% during the session. It propelled South Korea's benchmark Cosby index to a record high.