Ben Johnston, COO of small business lender Kapitus, said US businesses are grappling with tariffs that raise costs on imported goods, potentially making domestic manufacturing more competitive long term. But in the short term, those tariffs risk driving up inflation and disrupting global supply chains, threatening jobs across the manufacturing, wholesale, and retail sectors.

AI is also beginning to displace workers, especially in white-collar jobs. Companies are currently investing heavily in AI technologies that can analyze data and quickly make decisions that once could only be made by humans, Johnston said.

Companies are using AI to gather and analyze data from the web, internal systems, and third parties — tasks once done only by humans — mainly in white-collar roles like analytics and underwriting. And as robotics advance, AI could soon take on physical tasks in blue-collar jobs like driving, factory work, and even home healthcare, Johnston noted.