India, Jan. 22 -- People have become used to living with AI fairly quickly. ChatGPT is barely three years old but has changed the way many of us communicate or deal with large amounts of information.

It has also led to serious concerns about jobs. For if machines become better than people at reading complex legal texts, or translating languages, or presenting arguments, won't those old-fashioned human employees become irrelevant? Surely mass unemployment is on the horizon?

Yet, when we look at the big numbers of the economy, this is not what's happening.

Unemployment in the EU is at a historical low of around 6 per cent, half the level of ten years ago. In the UK, it is even lower, at 5.1 per cent, roughly the level of the booming earl...