At the World Economic Forum’s annual gathering, top CEOs claimed AI will be used as an excuse by companies contemplating layoffs, but new jobs would emerge.

AI’s trillion-dollar expansion, led by chip tycoon Jensen Huang, promised plumbers, electricians, and steelworkers more wages and more jobs.

Energy creates work. Chip manufacturing creates jobs. Nvidia (NVDA.O), opens new tab CEO told the Swiss alpine resort gathering that infrastructure creates jobs.

Delegates addressed how chatbots could cause psychosis and death, while labor union officials questioned the cost of technology advances.

“AI is being sold as a productivity tool, which often means doing more with fewer workers,” said 20-million-strong UNI Global Union general secretary Christy Hoffman.