Leiden, Netherlands, 15 May 2025 – The latest SkiLMeeT research webinar featured a thought-provoking presentation by Anton Korinek, Professor at the University of Virginia and fellow at the Brookings Institution, who explored the economic disruptions that Artificial General Intelligence (AGI) could unleash. Korinek warned that this technology could fundamentally alter how societies work, educate, and distribute income.
Held on 12 May 2025, the event drew 38 participants and sparked discussion about the need for rapid policy adaptation in the face of advancing AI capabilities.
Korinek argues that AGI – defined as AI capable of outperforming humans in all intellectual tasks – could eventually replicate nearly all forms of labour, rendering human work nonessential in most economic domains. This would eliminate labour scarcity, drive down wages, and concentrate economic returns in the hands of capital owners, deepening inequality.
While AGI is not yet a reality, Korinek pointed to early signs of disruption caused by Large Language Models (LLMs): declining demand for software developers and rising graduate unemployment. He anticipates that even in an AGI-dominated future, certain roles – such as caregiving, artistic work, and AI oversight – may persist due to their reliance on human connection, cultural relevance, or trust. However, these will likely represent a shrinking share of total employment.
Education systems, Korinek warned, must radically adjust. As AGI surpasses human experts in cognitive tasks, the economic return on traditional degrees could collapse. Academic institutions will need to redefine their roles in a world where machines outperform in knowledge production and problem-solving.
To counteract the growing concentration of wealth and opportunity, Korinek advocates for new income distribution mechanisms, including Universal Basic Income. He stressed that global disparities will intensify unless proactive policies are adopted to ensure inclusive prosperity.
Whether AGI arrives within a few years or decades, Korinek urged immediate action.
Read his recent paper concerning the topic here
