Futurology

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In what global investment bank UBS calls 'the great transfer' - billionaires are making more money from inheritance than entrepreneurship. (www.ubs.com)

submitted 11 months ago by Lugh to c/futurology

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[–] Lugh 4 points 11 months ago (1 children)

In all cases some jobs were removed, but other jobs were created.

Yes, this has always happened before. But what happens when AI & robots can do most or nearly all work? What business will survive paying human wages (+health, +social security) when its competitors can get the job done for pennies on the dollar with robots & AI.

That is the scenario I'm getting at.

[–] SnuggleSnail@ani.social 1 points 11 months ago

In the past there was a big overhead in managing all of that. But I could think that this is coming to an end.

Solutions could be: Make weekend longer / Work less hours a day / implement minimum income (regardless if you work or not).

A more realistic scenario would be: Scale up productivity. All work is done by AI and robots? Just create even more wealth with more people working on and with robots and AI.

AI is bad at creating things that have not been there. It is good at structuring data in a new way. So there is still a demand to create new things.