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Federal Reserve Governor Lisa D. Cook says artificial intelligence could boost productivity, wages and job creation—but workers may face hardship if jobs disappear before new opportunities arrive. Her remarks describe a risk and an uncertain transition, not a forecast that AI will eliminate a specific number of jobs.
What did the Fed governor say about AI and jobs?
In a February 4, 2026 speech on the economic outlook, Cook said AI could significantly affect both the labor market and the broader economy. She sees potential gains in productivity and output, which could support higher real wages and the creation of new products, businesses and jobs.
She also warned that the transition could be painful if displacement comes first: “job destruction may precede job creation, such that the unemployment rate might rise as the economy transitions, causing hardship for many workers and their families.” Cook added that AI has “raised uncertainty about the job market.” Read Cook’s February 2026 speech.
These are Cook’s views, not a Federal Open Market Committee forecast. The Federal Reserve’s speech page notes that her views are her own and not necessarily those of her colleagues on the committee.
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How could AI affect jobs?
Gradual adoption could change tasks more than eliminate jobs
AI can take on or speed up particular tasks while a person remains responsible for other parts of a role. In a September 2024 speech, Cook described analyzing AI’s labor-market effects by looking at the tasks that make up a job and how exposed those tasks are. Exposure is a way to assess potential change; it does not establish that an entire occupation will disappear. Read Cook’s speech on AI and the labor force.
Faster transformation could disrupt work and hiring
If employers adopt AI quickly, some tasks or roles could change faster than workers and organizations can adjust. Federal Reserve Governor Michael S. Barr has described both gradual adoption that augments existing work and a more transformative scenario. He said the eventual path is difficult to predict.
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Barr cited Lightcast job-posting classifications showing AI-related skills in about 5 percent of job listings overall, 20 percent of listings in the information sector and 1 in 10 listings in the financial sector. Those figures describe postings that mentioned AI-related skills—not the share of jobs replaced by AI. Barr also relayed survey findings that some firms planned workforce retraining while some reported scaling back hiring. Read Barr’s November 2025 speech.
The timing of losses and gains matters
Even if AI eventually supports new work and higher productivity, workers can be harmed if displacement arrives before those benefits. Cook’s concern is about this possible timing gap as well as uncertainty over whether jobs will be available during the transition. Neither the eventual balance of job creation and displacement nor the pace of change is settled.
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What do workers’ experiences show so far?
The Federal Reserve’s May 2026 report on U.S. household well-being says one in four workers had used generative AI for their job during the prior month in 2025. Among workers who used it, 81 percent agreed it saved them time, 52 percent said it improved work quality and 55 percent said it enabled them to do new tasks. These are workers’ reported experiences; they do not establish whether AI has produced net job gains or losses. Read the Federal Reserve’s employment and job-quality report.
The 2026 Worker Perspectives Report also records focus-group participants’ concerns that AI screening had filtered them out of job applications. That documents participants’ perceptions, not verification that automated screening made those decisions or evidence of how prevalent the practice is. Read the 2026 Worker Perspectives Report.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Is AI going to take your job?
The available evidence does not give a reliable answer for a particular worker or occupation. A job’s exposure to AI, an employer’s decision to adopt it, a hiring change and a realized job loss are different things. The cited speeches and Federal Reserve surveys describe possible mechanisms, official concerns and worker experiences; they do not show that AI caused aggregate job-market weakness or provide a dependable total for future job losses.
For personal planning, focus on the tasks in your role rather than treating your job title as a prediction. Consider which tasks AI tools may assist with, which still require your judgment or direct interaction, and what skills your employer or field is beginning to value. These are practical questions to monitor, not guarantees about which jobs will grow or shrink.
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