Jeff Bezos Says AI Isn't Taking All The Jobs: 'There's Going To Be A Labor Shortage'

Amazon.com Inc (NASDAQ:AMZN) is among the companies investing heavily in artificial intelligence, with $200 billion committed to 2026 to help the growth of many of the company's business lines.

Amazon founder Jeff Bezos doesn't see an AI bubble forming yet and was quick to dismiss the notion that AI will take everyone's jobs during a recent interview.

Job Cuts Vs. Labor Shortage

The rise of artificial intelligence use cases and productivity has led to outcry that jobs could be replaced, putting thousands of people out of work.

In an interview with CNBC, Amazon.com founder Jeff Bezos argued that people shouldn't be worried about losing their job to AI.

"It's going to elevate all of these people," Bezos told CNBC.

The billionaire said that smart people keep saying people are going to lose their jobs to AI, including software engineers and radiologists.

"These people are wrong."

Bezos is not only predicting that some experts predicting job cuts and people out of work due to AI will be wrong, he's predicting the direct opposite will happen.

"I think there's going to be a labor shortage."

Bezos argued that food will get cheaper, housing will get cheaper and there will be "so much productivity in the economy."

As a result, households that have two income earners currently will likely see one person drop out of the workforce, Bezos predicts.

Asked about Amazon laying off workers due to AI, Bezos argued that there have not been any AI-related layoffs. Amazon is investing heavily in AI and robotics, with some concerned that robotics investments will lead to fewer workers needed as new advanced factories are opened.

AI Not A Bubble Yet

As investment in AI from major companies like Amazon grows and valuations of private AI-related companies hit sky-high ranges, there are concerns that a bubble is forming for the sector.

Bezos isn't concerned yet.

"Even if it does turn out to be a bubble, you shouldn't worry about it because the bubble is driving investment and a lot of the investment is going to turn out to be very healthy," Bezos told CNBC.

Bezos said the investments will push AI forward, meaning "every experiment is getting funded." Bezos said while this means that some bad ideas are getting funded, great new ideas are also getting funded that will have lasting use cases even when and if the AI bubble pops.

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