AI Job Loss ‘Overhyped,’ Says White House Czar

- White House official downplays AI job displacement fears. - Microsoft study identifies roles most at risk, impacting crypto sector. On August 4, 2025, Cointelegraph reported that David Sacks, the White House AI and crypto czar, downplayed concerns that artificial intelligence will cause mass job losses, calling these fears "overhyped." Sacks highlighted that AI relies on human oversight to create real business value, and his remarks contribute to broader discussions about AI’s impact on employment, particularly within the cryptocurrency industry. According to Cointelegraph, a recent Microsoft study analyzed anonymized Bing Copilot chats to determine which occupations are most vulnerable to AI. The study revealed that knowledge-based roles are particularly susceptible to automation. These positions, including reporters, news analysts, and technical writers, received "AI applicability" scores ranging from 0.38 to 0.39, while data-centric jobs, such as market research analysts and data scientists, showed slightly lower susceptibility with scores between 0.35 and 0.36. Since many of these roles are critical to the crypto sector, the findings have sparked speculation about how AI might reshape the industry. This conversation about AI disruption coincides with signs of a slowing U.S. labor market, as the Department of Labor reported that employers added only 73,000 jobs in July—a figure that fell short of expectations. The crypto industry reflected this trend, with companies posting just 38 positions on CryptoJobsList.com and 69 on Remote3.co during the same period. Sacks’ stance aligns with that of Balaji Srinivasan, the former CTO of Coinbase, who argues that AI is more likely to enhance human capabilities than to replace workers. Srinivasan asserts that new AI technologies primarily replace earlier versions of AI, not humans, emphasizing a complementary, rather than adversarial, relationship between AI and the workforce. According to CoinMarketCap, Bitcoin (BTC) was trading at $29,872 as of 12:00 UTC on August 4, reflecting a 1.8% dip in its 24-hour trading volume. In the same period, Ethereum (ETH) was priced at $1,862, an increase of 0.9%, while Solana (SOL) traded at $24.75, showing a 3.2% change in its trading volume.