Citrini Report Warns of Global Recession: Millions of Jobs at Risk, Companies May Shut Down

• Citrini Research report claims rapid AI expansion could trigger a global economic recession, risking millions of jobs.
• The report, a "scenario study," suggests AI could weaken business models, decrease consumer income, and cause market instability.
• India's IT sector, built on a low-cost model, could be severely affected, potentially leading to talks with the IMF by 2028.
• Mass layoffs are feared in white-collar jobs, though AI is also expected to create new, potentially lower-paying roles.
• Co-author Aalap Shah proposes an AI Tax to fund social policies and a safety net for displaced workers.