AI bros believe its rapid progress will create a world where everything is in abundance. Elon Musk has gone to the extent of proclaiming that abundance will be such that no one will need to work, at least not for money. Indeed, money as a concept will likely lose relevance.
“Musk believes that robots and artificial intelligence (AI) will deliver any goods and services you desire. In his view, humanoid robots like Tesla’s Optimus may grow to be the biggest industry. According to Musk, AI and robotics could usher in an era in which all people are “far wealthier than the richest person on Earth.”
Additionally, Musk has stated, “We probably won’t have money, and probably we will just have energy [and] power generation as de facto currency.” Musk, however, admitted that we must ensure that AI has a strong concern for truth and beauty.”
In this piece, Atanu Biswas argues why that might be a bit too far-fetched.
“A future without jobs would be more dystopian than utopian; as one might imagine, civilization would strive to survive.
…Robots so far have proven expensive, making them difficult to scale, even as the cost of AI is declining, according to a new working paper by the University of Pennsylvania’s Konrad Kording and Ioana Marinescu, who presented a novel framework for assessing AI and the future of work. “AI transformation will be significant yet bounded, not infinite,” they contend.
….There are many experts who do not agree with Musk’s prediction that AI will ransform the workplace beyond recognition. After Musk’s remarks in Bletchley Park, Mustafa Suleyman, a British AI researcher and co-founder of DeepMind, said in 2023, “I think that certainly over a 50-year period, we should be concerned.”
….While Musk’s vision of full-scale automation may partly be the future, AI adoption in the workplace is still not happening as quickly as anticipated, despite recent rounds of tech-related layoffs.”
However, the author raises the likelihood of another prophecy from a century ago by the British economist John Maynard Keynes coming true. The prophecy is from Keynes’ famous 1930 essay titled ‘Economic Possibilities for Our Grandchildren’.
“Keynes foresaw a huge increase in earnings over the course of the following century as well as an unparalleled period of leisure brought about by improved standards of living during which people would “do more things for ourselves… only too glad to have small duties and tasks and routines.”
“Three hours a day is quite enough to satisfy the old Adam in most of us!” Keynes remarked.
…There has undoubtedly been a significant shift in work hours since the Industrial Revolution, when workers put in 10-16 hours a day. A century ago, in 1926, Henry Ford converted the typical six-day workweek to a five-day one.”
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