Morgan Stanley researchers released a report analyzing historical innovation waves, concluding AI will augment rather than replace workers.
The analysis shows past tech shifts caused job reallocation across sectors, with overall labor demand expanding alongside productivity gains.
Morgan Stanley warns the net‑positive employment effect of AI will be gradual, with task redistribution within roles before new occupations emerge.
Investors are urged to view AI as a transitional phase, not a binary choice between mass job loss and productivity growth.