Would You Bet Against Sex Robots? AI 'Could Leave Half Of World Unemployed'

Machines could put more than half the world's population out of a job in the next 30 years, according to a computer scientist who said on Saturday that artificial intelligence's threat to the economy should not be understated. Vardi, a professor at Rice University and Guggenheim fellow, said that technology presents a more subtle threat than the masterless drones that some activists fear. He suggested AI could drive global unemployment to 50%, wiping out middle-class jobs and exacerbating inequality. "Humanity is about to face perhaps its greatest challenge ever, which is finding meaning in life after the end of 'in the sweat of thy face shalt thou eat bread'," he said. "We need to rise to the occasion and meet this challenge."

Comments

Re:Its always been like this

[geoskd]

It's not "distributed", it's earned. Until you understand this, you have nothing to contribute.

Until "earning" CEO pay requires more skill than luck, I'm going to stick with the word distributed.

Put another way, small amounts of money (less than $1M) are earned. Large amounts of money are distributed. Wealth accumulation is not stable, it is a runaway process under our current economic system. There is a positive feedback loop between having money and income. If we were to build any other engineered system this way, it would result in catastrophe (think harmonics in buildings and bridges, or god forbid, positive void co-efficient in nuclear engineering). Intelligently designing systems is all about negative feedback to limit excess and undesirable oscillation. For some reason we ignore all of that when it comes to economics, and the result is an economic model that can best be described as cyclical booms and busts. The rich get richer, and the poor get poorer. That kind of system behavior in engineering would require a redesign of the broken part because the original engineer failed to do their job properly.

Re:Its always been like this

[geoskd]

What amazes me is that so many people now are just willing to throw away Capitalism entirely.

People are wiling to throw away capitalism so easily because a lot of people can understand at an intuitive level that capitalism coupled with the fundamental laws of nature will result in the rich getting richer and the poor getting poorer. Although most people don't have the engineering background to understand how the laws governing feedback loops, harmonics and system stability apply to macro and micro economics, the reality is that they can sense the wrongness of the capitalist economic model. The early attempts at a fix failed to take human psychology into account and consequently communism was born, had its run, and failed. In the mean time, we have regulated capitalism that has shown the most promise, but we have discovered that the less regulated it is, the worse it gets (more unstable, and less politically viable, think runaway income inequality). At the root of the problem is that money *is* power, and the more power any given group has the more they have the ability to modify the system to suit themselves. Any economic system needs two key components to be viable in the long term. First, it has to have powerful protections against modification to suit any particular agenda. This necessitates that the system be correctly designed in th first place, there can be no opportunity to "fix" it later, or you open the possibility of the system being gamed. The second thing it needs is a negative feedback mechanism to prevent runaway wealth accumulation. This is a tricky requirement as it appears to be 100% at odds with human psychology. It is this conflict that could potentially mean that human kind is fundamentally incapable of stable economic behavior.