AI took our jobs, but our mortgage didn’t disappear

In Malaysia, a man in his late forties is facing numerous financial obligations, including a mortgage, car loan, credit card bills, and school expenses, while also struggling to cope with job loss due to AI-driven restructuring. Despite working hard and paying taxes, he was told to simply "don't worry, be happy" and reskill. However, his essential responsibilities continue to pile up, leaving him worried about meeting his financial obligations.

While Malaysia's national AI office and TalentCorp are studying the impact of AI on jobs and recommending measures to protect workers, there are concerns about the lack of comprehensive support during the transition. The current employment insurance system provides temporary income replacement and re-employment assistance, but it may not be sufficient when someone loses their job.

There is a need for a more integrated approach that addresses the interconnected systems such as banking, housing, healthcare, education, and social protection. Temporary repayment flexibility, financial counseling, mental health support, and coordinated policy efforts could help displaced workers navigate the challenges of technological disruption.

While resilience is crucial, it should not be the sole responsibility of individuals to overcome structural disruptions caused by AI and other technological advancements.