The loss of jobs due to AI is starting to enter the mainstream, at least among the business and investing community:

While a stampede of high earners to lower-tax venues down south like Florida continues to be a major concern, there’s another, less-talked-about issue that’s worrying investors in the city’s municipal bonds: the threat of AI job elimination.

Richard Farley is a veteran corporate finance lawyer for Herbert Smith Freehills Kramer, and author of a terrific book published last year on the New York City’s financial crisis of the 1970s: “Drop Dead: How a Coterie of Corrupt Politicians, Bankers, Lawyers, Spinmeisters, and Mobsters Bankrupted New York, Got Bailed Out, Blamed the President, and Went Back to Business as Usual (And It Might Be Happening Again).”

Farley says AI job losses in software development, financial services and legal services will only accelerate, and those industries “account for a huge percentage of the high-paying jobs in NYC’s tax base.”