How A.I is taking out the human labour centric culture.

[CTO114]

The economy has always followed an intricate pattern; firstly labour creating value, value then creates then creates income, and then income funds consumption.

With the emergence of AI, that circle is becoming a thing of the past.

One can't help but ask the curious question: if machines produce more value, but humans own few productive assets, who maintains consumer demands?

The future if Capitalism would e such that, production capacity increases, but mass purchasing power weakens. Surely a defining crisis the AI era has created.

[viljy]

If you fire everyone, who will buy? The answer is no one. Effective demand for goods and services will disappear altogether. The economy will turn into something similar to socialism, but only much worse. Everything will be centrally distributed, right down to the food. There will be no free enterprise.  No one will choose what to consume, what to eat, and drink. Everything will be determined by corporations. Rather, AI that will manage all aspects of society.

[bitmover]

The economy has always followed an intricate pattern; firstly labour creating value, value then creates then creates income, and then income funds consumption.

With the emergence of AI, that circle is becoming a thing of the past.

One can't help but ask the curious question: if machines produce more value, but humans own few productive assets, who maintains consumer demands?

The future if Capitalism would e such that, production capacity increases, but mass purchasing power weakens. Surely a defining crisis the AI era has created.

We are still far away from AI replacing humans. But in future, it is possible that people wont need to work 8 hours a day. Maybe people can work for much less hours, and even a universal basic income will become a reality.

There is a serie  of books written in the 80s about it, Culture series. It is a society where nobody is needed to work anymore because robots do everything better than humans

[leonair]

When you run a business, you will always have a target of how to reduce your production costs and provide products to customers at a lower price. Because in the market where there are so many competitors, if you want to survive and do well, you have to supply your products at a lower price than others while maintaining the same quality. When you have 100 laborers working, the cost of their maintenance will be added to the price of the product, making the price of the product higher. And when you can do the same job faster and for less than half the price, why wouldn't you want to take that opportunity? AI is doing exactly that, which is why the demand for labor is decreasing. So it is seen that even the largest companies in the world are laying off a large number of employees from their companies.

[aoluain]

If you fire everyone, who will buy? The answer is no one.

Good point, I wonder if these giant tech companies pushing AI have thought that through? they dont care anyway.


Anyway I dont envisage AI to be able to replace every facet of human labour. I can see it replacing office admin staff,
acting, music for example and Graphic design is already under threat but as regards trades like mechanical, building
and woodworking these will still be essential. AI is not going to be able to replace your suspension in your car, fix a
leak in your plumbing, replaster a secion of your wall build you a bespoke piece of furniture.

[Agbamoni]

For me, it doesnt completely change the circle because the parts involved in the circle depend on one another. If AI replaces the laborers and many of them lose their source of income, there will be few people who will patronise the company for their goods and services. As a result, there will be more efficiency but at a lower cost. A big chunk of those goods and services will be left unsold. It will not affect the workers only. It will affect both the workers, the manufactuores or producers of the goods and services.

[Rruchi man]

The economy has always followed an intricate pattern; firstly labour creating value, value then creates then creates income, and then income funds consumption.

The concept that labor creates value is an early economic concept, modern economic concepts also supports that value will create labor, and I am more in support of the second concept than the first although it is not also wrong which means it goes both ways.

Why I support the more modern concept is because when you create value for yourself, that is make yourself valuable, you will attract labor that is have jobs.

AI has reduced the value some people can provide, but it has not been eliminated. There are people who have even been able to utilize AI to make themselves more valuable.

[coin-investor]

One can't help but ask the curious question: if machines produce more value, but humans own few productive assets, who maintains consumer demands?

The future if Capitalism would e such that, production capacity increases, but mass purchasing power weakens. Surely a defining crisis the AI era has created.

The answer is balance: the AI cannot occupy the majority of the labor force to the point that it weakens consumers, since consumers are the people the AI has replaced.
The government does not want unemployment to rise due to displacement, because they will also suffer. Various industries and the government should ensure a balanced ecosystem and avoid a massive takeover by AI.

[Smartprofit]

Yes, in my opinion, this is a big problem! Capitalism and AI are two incompatible entities.🙅

The capitalist appropriates the added value. This is their profit. However, added value is created only by people. If I'm a capitalist, I can, for example, hire a worker from a poor country. They'll work for me, and I'll receive the difference between their salary and the salary of a worker from my developed, rich country.

If my workers aren't people, but AI agents, then I'll have to buy them from another capitalist. The capitalist won't sell them to me cheaply. The capitalist will sell them to me at market price (this is what capitalists always do, since they don't engage in charity). Consequently, I won't have any added value, and therefore no profit.

A worker from a poor country whom I fire won't be able to buy my products because they won't have any income. An employee from a developed, rich country will also be fired and lose income.  He won't be my customer either...

So, the question arises: to whom can I sell my products? The answer: no one. Capitalism is over.

At the same time, universal basic income, in my view, doesn't solve this problem. This income is a handout from powerful AI companies to eight billion people. But what will the AI ​​owners demand from ordinary people in return? Complete subordination? The renunciation of ambitions? The renunciation of rights and freedoms? The renunciation of a normal, fulfilling life? The question remains... 🤔

[Dreadboost]

AI system is a competitive system in this era. These big companies pushing AI to a higher level don't care about the repercussions of it.

While growing up, we watched movies of AI taking over the technologies built by humans to rule over the world. Yes, it is movies, not real, but in my opinion, AI can actually control the world in diverse ways.

@coin-investor actually spoke of balance. I think that is the solution. Since AI will replace workers, it wont replace all workers but some. It will not take over the workforce completely, so there will be no workers that earn through the system. People will be employed to give instructions to the AI.

[Felicity_Tide]

We are still far away from AI replacing humans. But in future, it is possible that people wont need to work 8 hours a day. Maybe people can work for much less hours, and even a universal basic income will become a reality.

There is a serie  of books written in the 80s about it, Culture series. It is a society where nobody is needed to work anymore because robots do everything better than humans

If you don't mind, I really appreciate you recommending the book.
Before now, I have always felt like the era of AI taking over is still very far away, but in recent times, we've all seen big tech companies, laying off thousands of their staffs in a single day. Meta has done it a couple of times, and if I remember correctly, Oracle was the last to do that. Of course, I can agree that there are still so many sectors that are a bit far from the threats we're talking about, but don't you think that the Tech sector is likely to be the most vulnerable to this threat?.

[Creeper0]

AI cannot replace all professions, some jobs are disappearing but new jobs are also emerging. Even if AI replaces all jobs, it is still too late, it is difficult to say where the world will go in the long run. Wars have already set some countries back by a few years to a few hundred years. Even the global political situation is not good, if the world faces a major war, then maybe all the technology will be destroyed and people will have to survive by laboring themselves. So there is no reason to worry too much about AI right now.

[Cryptomultiplier]

We are still far away from AI replacing humans. But in future, it is possible that people wont need to work 8 hours a day. Maybe people can work for much less hours, and even a universal basic income will become a reality.

There is a serie  of books written in the 80s about it, Culture series. It is a society where nobody is needed to work anymore because robots do everything better than humans

If you don't mind, I really appreciate you recommending the book.
Before now, I have always felt like the era of AI taking over is still very far away, but in recent times, we've all seen big tech companies, laying off thousands of their staffs in a single day. Meta has done it a couple of times, and if I remember correctly, Oracle was the last to do that. Of course, I can agree that there are still so many sectors that are a bit far from the threats we're talking about, but don't you think that the Tech sector is likely to be the most vulnerable to this threat?.

I think the tech sector and sectors that involves large production capacity are more vulnerable to Ai takeover, but in reality, although Ai is efficient enough, the workers who stand to be replaced lose their earning and purchasing power.
So imagine a scenario where AI takes over all sectors of the economy and workers are laid off without a way to earn all because of AI efficiency, then we would have economic stagnation because there would be so many products available but no one with money to buy them or use them, because there are no human jobs to earn money from, available.

[Fortify]

The economy has always followed an intricate pattern; firstly labour creating value, value then creates then creates income, and then income funds consumption.

With the emergence of AI, that circle is becoming a thing of the past.

One can't help but ask the curious question: if machines produce more value, but humans own few productive assets, who maintains consumer demands?

The future if Capitalism would e such that, production capacity increases, but mass purchasing power weakens. Surely a defining crisis the AI era has created.

Be careful assuming too much from AI, it is still susceptible to making massive mistakes and I see errors in the output at simple levels like search engine summaries all the time. It is actually dangerous automatically believing a lot of the stuff that it churns out and the amount of time experienced users will have to tell it to correct errors is actually alarming. Remember it is ultimately just a language model and using intelligent connections, but is always looking backwards at data rather than projecting it forwards. The most creative people will be able to think around that limitation and stay ahead of it in certain respects and it will always need people to oversee it for vetting purposes.

[WatChe]

AI cannot replace all professions, some jobs are disappearing but new jobs are also emerging. Even if AI replaces all jobs, it is still too late, it is difficult to say where the world will go in the long run. Wars have already set some countries back by a few years to a few hundred years. Even the global political situation is not good, if the world faces a major war, then maybe all the technology will be destroyed and people will have to survive by laboring themselves. So there is no reason to worry too much about AI right now.

Same was said during the industrial revolution that machines will eat all jobs but still today humans are working. Your point is valid that if few jobs cease to exist then new frontiers will open. We just need to upgrade our skills according to new trends and everything will be fine for us. If we keep our self in comfort zone that my job is safe and nothing will happen to my job because of AI then we can't do anything in case we are fired by company because of their AI adoption policy. Just remain vigilant and learn AI to survive in the future. 

[bitmover]

We are still far away from AI replacing humans. But in future, it is possible that people wont need to work 8 hours a day. Maybe people can work for much less hours, and even a universal basic income will become a reality.

There is a serie  of books written in the 80s about it, Culture series. It is a society where nobody is needed to work anymore because robots do everything better than humans

If you don't mind, I really appreciate you recommending the book.
Before now, I have always felt like the era of AI taking over is still very far away, but in recent times, we've all seen big tech companies, laying off thousands of their staffs in a single day. Meta has done it a couple of times, and if I remember correctly, Oracle was the last to do that. Of course, I can agree that there are still so many sectors that are a bit far from the threats we're talking about, but don't you think that the Tech sector is likely to be the most vulnerable to this threat?.

Sure  these are the books
https://en.wikipedia.org/wiki/Culture_series

Elon musk loves them. I saw him recommending them more than once

This is the first one

[Nalain420]

Your concern is quite valid as we see in the history it is always seen that the economic growth is dependent on the earning of the people and then spending that money on buying goods and services for them. AI and automation is replacing a large amount of human work increasing the productivity but the benefit could become concentrated between technology and capital as AI is replacing a lot number of workers then people who are being replaced will have less income, business still need customers and customers need income ,if worker have to face unemployment or reduced wages and they will not be able to buy those product that could redu consumption, despite they are being produced in large number. The gain and the benefit that we are getting from artificial intelligence is need to be shared rather than concentrated among few person.

[ZAINmalik75]

There is a serie  of books written in the 80s about it, Culture series. It is a society where nobody is needed to work anymore because robots do everything better than humans

The question is, what will those humans do whose work is being done by machines or robots? It's not like they are going to get paid for doing nothing, or those who own the companies or firms where the machines and robots are working are going to feed everyone for free. So, the people will still need to find a way to make money, and in the future, as it seems, it will be very difficult without using AI. This is why it is essential for all of us to at least equip ourselves with enough knowledge so that we can at least use AI to assist us in what we do, whether it's something digital, or physical.

With the pace the AI technology is advancing and developing, it is pretty clear that in the future, most of everything will be done and managed by AI, and those who don't adapt and change before it's too late will surely regret it. We can't say that we won't use AI because it is going to replace us, we have to understand that we can become stronger if we incorporate AI in our work, use it as an assistance, save time and be more efficient with whatever we do.

[Livingleged]

There is no doubt that the direction in which AI is moving towards with their new tools is a matter of concern, but I still believe it can’t replace human labour completely. We’ve seen the tools it always requires a prompt if there is no one to give that prompt then it’s won’t even function either. What the AI is doing is just reducing the stress one has to go through in carrying out our duty, but taking it out completely it’s not even possible, there is a post I did which I listed a lot of things AI could not match or replace if I find it I’ll share the link with you.

[AmoreJaz]

There is no doubt that the direction in which AI is moving towards with their new tools is a matter of concern, but I still believe it can’t replace human labour completely. We’ve seen the tools it always requires a prompt if there is no one to give that prompt then it’s won’t even function either. What the AI is doing is just reducing the stress one has to go through in carrying out our duty, but taking it out completely it’s not even possible, there is a post I did which I listed a lot of things AI could not match or replace if I find it I’ll share the link with you.

Just use AI responsibly and I believe that's fine. But you still need to think on your own. Don't rely too much on it as your logical thinking will be lost. We are in this age of AI already so we can't escape from it from happening. But need to be aware of what it can do to your mind if you heavily rely on it. Yes, it is quite easy to type the prompt and get some results but check the content as some are not correct. An example that I have encountered was when I tried to ask a solution for a certain linear algebra problem. I already knew the answer and it gave somewhat a wrong answer. There's no negative in one of the numbers. So I asked why it didn't give negative answer, and that's when AI said that you're correct. So yeah, double-check what its giving you. Same with the references that it will give. Not all references are correct.