By Bilesanmi Abayomi
Aare (Dr) Lai Labode has raised concerns over the accelerating impact of artificial intelligence (AI) on global economies, warning that the technology is already reshaping industries and labour markets.
In a statement titled “Constellation of Thoughts: AI — Are We Ready for What’s Coming?”, the Founder and Chief Executive Officer of CashToken Rewards International said AI is poised to rapidly transform jobs, markets, and capital flows at an unprecedented scale.
According to Labode, the widespread adoption of AI—if not properly managed—could disrupt income structures, weaken consumer demand, and place additional pressure on credit systems. He cautioned that delayed policy responses could deepen these challenges, creating a negative feedback loop across economies.
“AI is not coming — it’s arriving,” he said, underscoring the urgency for governments and stakeholders to act decisively.
Call for Policy and Workforce Readiness
While highlighting the risks, Labode noted that periods of technological disruption have historically rewarded proactive leadership. He called for deliberate investment in workforce reskilling, the development of clear regulatory frameworks, and the strategic deployment of AI technologies.
He stressed that the long-term impact of AI will depend largely on present-day decisions by policymakers and business leaders, urging a balance between innovation and economic stability.
“The choice is ours: retreat into uncertainty, or lead a smarter, fairer economy,” he added.
Labode reaffirmed his commitment to promoting forward-looking strategies aimed at harnessing AI for inclusive growth and sustainable development.
Outlook
Analysts say the concerns reflect a growing global debate over how governments and institutions can manage the economic disruptions posed by AI while maximizing its potential benefits.