The Robots Can Take Our Jobs, But They Can’t Take Our Economy
\n\nOne of the stranger predictions about artificial intelligence is that it will make the economy spectacularly productive while leaving most people unemployed, unemployable, and unable to obtain the things they need.
\n\nHere’s how the AI Economic Apocalypse Theory (AI EAT) works. The machines will start by taking all the cognitive jobs. But eventually they’ll also produce our food, manufacture our goods, and perform virtually every service humans now perform with extraordinary efficiency. Their owners will become fabulously wealthy. Ordinary people, having lost their jobs to automation, will supposedly lack the purchasing power to participate in this abundance.
\n\nThe prediction combines two assumptions that sit uneasily together. People are excluded from the output of automated production, yet somehow that production eliminates their ability to supply one another. We told we will be living in a world of super-abundance provided by AI production of goods and services that somehow is also a world in which almost everyone is deprived of those goods and services.
\n\nWe’re not making this up. This is really what a lot of people—including people who work for AI companies—are predicting.
\n\nThe missing explanation is why people…
Original source: https://www.breitbart.com/economy/
