Video: The Artificial Intelligence Impact on Jobs Isn't All Doom and Gloom

Artificial intelligence is widely viewed as a threat to jobs.

But this view has some important caveats.

"It'll be a threat to certain kinds of jobs, but it will also be creating newer types of jobs," said Carmine Di Sibio, EY's global managing partner for client service.

Di Sibio said EY has developed AI technology that can read contracts. "We are deploying it already on lease agreements," he said. "We read lease agreements in a lot of our services - advisory services, audit services, tax services - and we've developed some algorithms using AI to read these leases so people don't have to."

This frees up EY's staff and allows them to focus on other tasks instead of pouring through documents, according to Di Sibio.

Now hear bank analyst Mike Mayo weigh in on a new AI chat bot from Bank of America (BAC) - Get Report :