Renowned British journalist Robert Peston — who had earlier foreseen and warned the world about the 2008 financial crisis and the COVID-19 pandemic before they struck — has now issued a warning about artificial intelligence (AI). He made the shocking claim that within the next year or two, job losses caused by AI could trigger a massive global economic crisis.
Peston revealed these insights in his new book, “The Kill Switch.” He stated that as AI technology advances at a rapid pace, machines are replacing human labor across every sector. With companies increasingly preparing to lay off employees in favor of AI systems, he warned that a frightening situation looms ahead, in which millions of people could soon lose their jobs and be left without work.
He explained that the primary cause of this looming economic crisis is the unrestrained level of investment currently being poured into AI projects. At present, banks and major corporations worldwide are diverting tens of thousands of crores of rupees toward building AI data centers and massive power plants. Peston noted that this is creating severe imbalances within the traditional economy, risking serious damage to the banking and financial sectors.
Veteran British journalist Robert Peston, who reportedly warned about the 2008 financial crisis and the emerging COVID-19 pandemic before they unfolded, has issued a stark warning about the rapid rise of artificial intelligence, arguing that it could have far-reaching…
— The New Indian Express (@NewIndianXpress) July 23, 2026
If millions of people lose their jobs, the public will be left without income, causing income tax revenues collected by governments to collapse entirely. Without tax revenue, governments would find it increasingly difficult to run their countries and provide for public welfare. As AI rapidly consumes jobs, Peston is warning that governments around the world must urgently seek out alternative solutions.