Bloomberg Invest: AllianceBernstein's Andrew Chin on AI Guardrails, Efficiency

Andrew Chin, AllianceBernstein Chief AI Officer, discusses his approach to AI use cases in the workplace, including guardrails that AllianceBernstein adheres to and why they're important. He also discusses upskilling workers with internal AI systems. Chin speaks with Bloomberg’s Tim Stenovec and Carol Massar from the Bloomberg Invest conference in New York City. The Fed left its benchmark rate unchanged at its last policy meeting in January, citing signs of stabilization in the labor market, following three straight rate cuts to close out 2025. Investors currently don’t see another rate cut until at least midyear, according to futures.

Cook didn’t comment on the outlook for monetary policy in the near term in her prepared remarks, though she pointed to the latest labor-market data released after the January meeting, which reinforced the view that conditions were stabilizing.

“The unemployment rate for recent college grads has increased over the last few years at a time when some employers are deploying AI for what had been tasks previously performed by entry-level workers,” she said. “Nevertheless, the overall unemployment rate is still at a low 4.3%, and recent measures of layoffs remain subdued.”

In a panel discussion following her speech, Cook said it may take five to 10 years for the impact of AI to appear in economy-wide productivity statistics. She added the Fed is already incorporating AI into its forecasts, citing its possible effects on the neutral rate and the impact of data-center investments on economic growth.

The stock market was roiled on Monday after a little-known firm called Citrini Research published a report outlining risks from AI to various segments of the global economy.

Fed Governor Christopher Waller, speaking Tuesday at a separate event, said the report overstated the potential impact on employment.

“AI is a tool. It’s not going to replace us as human beings,” Waller said. “This is kind of an overstated thing.” Artificial intelligence is so far having no negative impact on euro-zone employment, with the heaviest users of the technology even adding staff, according to a European Central Bank blog post.

Based on company surveys conducted in 2025, “investment in and the intensive use of AI are not yet replacing jobs,” researchers Laura Lebastard and David Sondermann wrote.

“In fact, some firms are hiring additional employees – perhaps because they are looking to develop and implement AI technologies while maintaining their existing production processes, or because AI is a way to help them scale up more quickly,” they said.

President Christine Lagarde says the ECB will be “extremely attentive” to how AI-driven productivity gains impact labor markets amid fears of a widespread displacement of workers. The Federal Reserve may not be able to counter rising unemployment caused by AI, Governor Lisa Cook warned last month.

The ECB blog cautioned that studies on Europe can be difficult to square with those in the US, where adoption is proceeding much more rapidly. Things can also change easily as usage becomes more widespread.

“AI has not yet significantly transformed production processes,” it said. “Given that this is set to change, the longer-term impact of AI on employment remains less clear.”

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