Capitalism Doesn't Need Consumers Anymore...

After the launch of Chat-GPT and Dall-E, AI started to raise concerns for jobs and society. As machines and sophisticated technologies surpass human abilities, a growing number of complex jobs are being outsourced to machines who can do better work for a lower cost. This prompts questions about how economic systems can adapt to most people having a net negative economic value.

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[fede_mana]

the advantage of being a philosopher is that you don't run the risk of being replaced by an AI because we are useless since before they existed

[wharrgarblstudios]

I must admit this video hasn’t exactly filled me with much confidence - as someone who works in the Data Science space and trying to change jobs, I have been confronted with a number of executives in interviews who are basically giddy at the prospect of using ChatGPT to replace whole departments like customer complaints - it definitely feels like corporations are pushing with everything they have for your worst case scenario and most governments are either far too slow to react or are in the pockets of the corporations in the first place to make any meaningful steps to balance out the interests of corporations with their electorate. Coupled with climate change and Covid I’m honestly quite exhausted of living through ‘interesting times’

[neh]

The tragic thing is that, were this a good world where everyone worked towards the wellbeing of their fellows, the last few advancements in technology would already have meant the end of poverty, grueling work and men being free to pursue their dreams. Instead now we have to worry about some faceless assholes using this technology to kick even more people into poverty just because they want to buy two more yatches every year.

[Maartimer]

It's a little concerning that the main answer to "what if there's 100% unemployment" was that "it won't be much of a problem because people will stop having children"

[Hodenkat]

Productivity gains do not go to the worker. They go to the owners and investors. This has been true for 50 years. Longer, but productivity gains used to be more closely tied to wages before that time. Around 1980 is when it happened, more specifically.

[Flyingclam]

Ive noticed AI seems best to replace middle income jobs. Like that middle managment or low level creative jobs. My fear is that income mobility will become exceptional hard in the future. Along with heavy depression of low skill jobs wages due to increase labor supply

[ishaansharma]

Maybe consumers don't need capitalism anymore...

[grimwaltzman]

I've been using ChatGPT to assist my software development work for the last couple months. So far, it is definitely not enough to replace me as a developer, but it sure makes getting information much easier and faster, as it often allows to skip the StackOverflow scrolling. But the code it outputs, save the most basic stuff, often either doesn't work at all or does not exactly what was prompted, therefore requiring quite a bit of refactoring.

[antonkryzsko]

My wife’s job got replaced by the internet years ago. She use to work for an airline in reservations. Wen she started there were over 100 people who would take calls and book flights, hotels, rental cars, and so on. By the time she left there were less than 20. The pressure was to get people to book everything themselves through the website. What was a free service now came with a $50 service charge or you could do it for free online. She got another job that she likes more.

[alrxandersmiths]

My grandpa taught me this a long time ago if the entity in charge won’t let u work to earn living to feed your self u get like minded individuals and u go to war.

[joao_belmont]

"...so they can continue to live, but MOST IMPORTANTLY, CONSUME." Modern economics explained in one sentence.

[hungrymusicwolf]

"There's no reason to think things will be different this time" - there actually is. There were always tasks that couldn't done by anyone but humans. AI + Robotics does not have that limitation. When we were automating things such as weaving we still always required humans to think up the what and how. Our minds were irreplaceable, but AGI changes that.

[kevnar]

Yes. Billionaires fire everybody to cut costs, but then nobody has money to buy their products. They can't not be greedy, but their greed ultimately destroys their wealth. Such a paradox!

[c.rutherford]

Nobody is going to convince me that 99% of the money backing AI development isn't to replace salaried people with robots, so those investing in it can make more money by laying off their workers which is their #1 expense. Especially in 'skilled' jobs, which was always the area they were forced to pay people good money. Where AI now makes replacing them possible for the first time ever.
There may be a few who are dumping big money into it for the good of humanity but.... oh lets just give up on that. NOBODY is spending big money on it for the good of humanity lol.

[Chris-pqwp]

We can already see the effects of this. Companies offshored millions of industrial jobs to low wage countries and automated them and it negatively impacted the finances of the people that lost their jobs. The jobs that replaced them were low paid customer service and warehousing jobs which will probably be automated by AI also. The profits from these cost savings have gone to shareholders and any consumer gains from low prices have been negated by high inflation from money printing by the government in order to pay for the economically disadvantaged people.

[JJs_playground]

I don't want to say this time it's different, but *this time it's different* then any previous technology we have created. We are creating thinking machines that can recursively improve themselves. And once we nail humanoid robots we are going to be in an era we have never seen before.

[Ramschat]

The idea that every replaced worker will just become an AI-programmer/engineer conveniently ignores the fact that a large section of the population simply doesn't have the mental capacities required to do that kind of work.
AI is replacing simple work, while creating more high-skill jobs. As more and more jobs become high-skill, a larger portion of the population will be unable to keep up.

[delta]

Never have I seen productivity convert into higher pay for anyone I've ever known

[harshstudy]

One big flaw i found in all these videos about ai is they compare this with printing or other general purpose technologies we seen in past but steam engines and printers were only threat to one, two or just few progression on the other hand ai is almost capable of doing all the jobs from finance to labour, reasearch to teacher . In past we have seen some sectors getting disruptied but this time its diffrent bcoz almost all the sectors are getting affected .

[baronvonchickenpants]

I remember watching tomorrows world as a kid in the seventies, they predicted that in the year 2000 we would all live in luxury no more work etc, the robots would do it all, you've got a lot to answer for Judith Haan