Re: How's business
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bluer than bluesWorcesterbluesI know naff all about economics however here are my very, very basic thoughts on AI/automation/robotics etc.
The Industry creates loads of jobs, sounds great right? Who is it creating jobs for? The people who worked in factories or trades, or the smarter people that did well academically?
What I’m getting at is, people who aren’t as academically strong are going to struggle to find work, and unemployment is going to be much worse than it is now.
What will happen then? The companies that turned to AI to make more profit, now won’t sell as much because the economy is even more on its arse.
It will be academic and non-academic workers, especially when AGI is here.
Whilst jobs will be created, the danger is that it's moving so far and so widespread that too many people will be affected and there won't be enough new jobs created in the short term.
I agree with this - human history shows that improved technology creates new jobs, and are an overall benefit to the economy. Governments need to be looking hard though at those shorter term impacts - just in the UK we're still struggling with the legacy of the end of coal mining etc