How Will AI Affect Today’s Economy? & How Soon?

John McCarthy, the original inventor of the term “artificial intelligence,” was asked in the 1950s when he believed artificial general intelligence (AGI) would get here.

McCarthy famously answered, “Somewhere between 5 and 500 years, and we’ll need a few Einsteins.”

Truth is, artificial Intelligence is no longer a thing of science fiction—it’s already here, transforming the way we live, work, and think about the future.

But how will the 4th Industrial Revolution we’re living in (the Age of AI) affect our world’s economy?

Will AI bring unprecedented productivity, or will it push millions out of work? How soon should we expect these changes?

From universal basic income to a resource-based economy, I’m exploring this topic in today’s video.

Follow me:

[JorgeRicardo]

Elon Musk and Julia McCoy are in favor of UBI. Me too

[bigbadallybaby]

If UBI is not “distributed fairly” then by definition it’s not UBI.

[MichaelRobertson-lcyi]

It's already started. I live in San Francisco, there are a lot of tech companies here. It's no secret that AI is beginning to replace jobs. Many times as I walk on Market Street, I've heard how Google is laying off tech workers because AI is now doing their jobs. That talk has been going on for about a year now.

[CameronAllOneWord]

Why would we need money if AI can do LITERALLY anything? Why would we need to be productive at all? Why would we even need to rely on the government for money? Why give us busy work? I don’t want to be lazy but I don’t want to do something stupid just for the sake of doing what somebody else deems to be productive

[FunnyProducer]

The problem at the moment is that it is impossible to predict what to learn to be future-proof. I started learning programming but stopped because AI will learn to do it better than I ever could and can already better than me. Every day new announcements about better AI make it hard to learn anything because AI will do it better before you know about it. Strange enough only google got worse with time.

[picksalot]

The historical trend is that humans prefer machines when the machines work better and cost less than humans. I think this trend will be even more powerful with AI.

[seanrobinson]

Great content, Julia McCoy. More people need to be talking about these things.

[jhunt]

I do think we'll have AGI by 2029. But I don't think that will mean we'll have the fruits if it right away. 2040 until the transition I'd wager.

[bigbadallybaby]

I’m really warming to the idea that AI will plan and explain the new economy and the steps to take eases us across to a post work world 🤞

[MartinKovac-yh]

It is interesting how these robots are improving. I hope they will be not as good as it it seems now, so they do not take so many jobs.

[colinbondi]

Really glad to have found your channel, I really enjoy your videos and perspective much appreciated!

[AIForHumansShow]

great video - always look forward to these

[Saif-G]

What about the poor Countries where would they get the money to give..

[randyosborne]

The AMA is in chaos, shambles. And needs all the AI it can get.

[twinsoultarot]

Hi Julia! -- Can you elaborate on how you think about and how you feel about that we are not going to be the ones who make the final decisions in how the economy is built?

[pandoraeeris]

It's already begun.

And no, we are not 'ready'.

[djrafaelhulme]

Why Every Prediction on This Timeline Is Wrong

People are underestimating the accelerated interconnectedness of various fields of science. Every time one discipline makes an advancement, it often drives progress in others. Fields like AI, quantum computing, anti-aging tech, material sciences, energy, and semiconductors are all intertwined. A breakthrough in any of these areas could trigger significant advancements across the board. Plus, these fields are seeing unprecedented levels of funding, which only accelerates this process.

And those are my two cents.

[jameskelly]

I would have broken down. Became damaged goods. You’re awesome thank you for your help.🙏

[calvinstrose]

Thank you for being the champion of the ever changing AI world that is fast approaching. I agree with you on what we will experience during the years 2029 - 2030. Decentralization will have to replace how our current world system operates, because it’s not managed properly to benefit every man, woman and child on this planet. 🧐

[jameskelly]

I’m a spiritual person thank you again you’re right on time for a lot of people what you do is great.