Imagine this scenario:
- All companies start producing mostly using only AI and firing people, because people have no use anymore
- Joe spend most of his income on digital video games products
- Joe get fired because he got replaced by AI now, since AIs are taking over most jobs
- Joe has no income anymore
- Joe doesn’t have any more money to spend on video games
- Companies have no more profit, because people don’t have income, so people can’t spend on their AI produced products
In this scenario both lose, the company adopting AI and the worker. Am I missing something? Is there any possibility besides Universal Basic Income to keep the system running and not collapsing?
This is to a degree already a problem. Not because of AI, but because of stagnating wages and an increasing wealth gap.
It used to be that a company designing and selling was limited by funding, but now we’re increasingly seeing companies with all the money in the world who are seeing sales going down due to the simple fact that people cannot afford to buy what they’re selling. The supply is there, but modern corporate effectively eradicate their own market.