"AI End-of-Day Report" author speaks out: Market panic exceeds expectations, calls for the implementation of an "AI tax" to address unemployment

BlockBeats News, February 24 — Co-author of the report “The Global Intelligent Crisis 2028,” Alap Shah, spoke publicly on Tuesday, admitting that market reactions far exceeded expectations and calling on governments to tax AI to prepare for a potential wave of large-scale unemployment.

The Chief Investment Officer of Lotus Technology Management warned in an interview with Bloomberg Television that within the next 18 months, advances in AI could lead to a 5% reduction in white-collar jobs, with the U.S. being hit hardest if no policy interventions are implemented. He predicts that service-intensive industries such as insurance and banking face greater risks.

Shah stated that governments should consider taxing the incremental or unexpected gains brought by AI to offset the impact of labor displacement and protect consumer demand. He believes that replacing white-collar workers will create a negative feedback loop: companies lay off employees to boost profit margins, reinvest the savings into AI, and further cut jobs.

The report “The Global Intelligent Crisis 2028” is a brainstorming scenario based on the premise of “AI maintaining rapid development,” with the core view that “continued unexpected surges in AI capabilities are actually major bearish signals.” The report hypothesizes that in two years, widespread AI adoption will replace many white-collar jobs, creating an unchecked negative feedback spiral that drains the economy, financial systems, and housing credit structures built on the premise that “people are valuable,” ultimately leading to an unstoppable collapse.

Influenced by the spread of panic from the article, U.S. stocks fell sharply on Monday, with the Dow Jones Industrial Average dropping 822 points (-1.7%), the S&P 500 down 1%, and the Nasdaq Composite down 1.1%. The software sector was hit hard, with Datadog, CrowdStrike, and Zscaler each falling over 9%, and IBM plummeting 13%, its worst single-day performance since 2000. Companies like American Express, KKR, and Blackstone, also named in the report, saw significant declines.

Shah admitted to being surprised by the market reaction: “I initially expected a small response, but it was definitely larger than we anticipated. Considering the level of the U.S. market, this reaction isn’t too surprising. AI trading has been ongoing for three and a half years, basically on a straight upward trend. Now everyone is fully long, and there aren’t many new buyers.”

BlockBeats has published a detailed translation of “The Global Intelligent Crisis 2028” on our site for users to review.