A compelling post about an unfortunate situation. To be honest, the word ‘unfortunate’ isn’t the right word and doesn’t do justice.
If AI lives up to the hype and expectations… and for those of us working with the tools every day… there is no reason to think it won’t. The next 3-5 years are going to be a very brutal game of musical job-chairs.
At every company, the music will stop, and 20-30% of employees will not have a desk chair to sit on. Because companies do not have a choice. Companies will have to invest in AI and cut labor costs to remain competitive.
This has always been the endgame of automation.
And I absolutely believe AI automation is the right path for society. A person should never be doing a job that a machine can do. Unless it is for fun or some other entertainment value.
But make no mistake, AI will break the economy. Businesses need paying customers to survive. Eventually the Tech industry will have to begin worrying about that. And some already are. It’s why several well-known tech industry leaders are calling for a Universal Basic Income.
And that is the part that worries me. I don’t know how deep the pain has to reach before governments take action. Will cities have to burn down? Will data centers and corporate headquarters be physically attacked by mobs? How many homes will be foreclosed on before governments take action?
I don’t know what will be the catalyst to initiate radical change. But it’s coming.
We are entering the next evolution of our economy, beyond our current Information economy, where the basic needs of survival will be disconnected from the traditional definition of a ‘job’ that provides economic value in the marketplace.