A look at the results of a recent New York Fed survey about generative AI (gen AI) and its effects on the labor market and implications for inequality.
When I think about this issue, I sometimes think about future scenarios on a scale of 1 - 10, with 10 being ‘most confidence to predict will occur’ and 1 being ‘least able to definitively predict’.
I give UBI a 4 on that scale. It may well occur, but there are different ways of achieving the same goal, so who knows.
One of the few facts I rank at 10, is that the day is coming when AI and robotics will be able to do most work, even the jobs uninvented, but for pennies on the hour.
The logical follow-on is that the day will also have to come, when society realizes that this is happening, understands it, and begins to prepare for its new reality. This is going to seem scary for many people; they will just see the destructive aspects of it, as the old ways of running the world crumble.
This is how I look at what this research is talking about - signs of this awakening becoming more widespread. We badly need politicians who start telling us about what the world is going to be like afterwards, and painting a hopeful vision about it.
When I think about this issue, I sometimes think about future scenarios on a scale of 1 - 10, with 10 being ‘most confidence to predict will occur’ and 1 being ‘least able to definitively predict’.
I give UBI a 4 on that scale. It may well occur, but there are different ways of achieving the same goal, so who knows.
One of the few facts I rank at 10, is that the day is coming when AI and robotics will be able to do most work, even the jobs uninvented, but for pennies on the hour.
The logical follow-on is that the day will also have to come, when society realizes that this is happening, understands it, and begins to prepare for its new reality. This is going to seem scary for many people; they will just see the destructive aspects of it, as the old ways of running the world crumble.
This is how I look at what this research is talking about - signs of this awakening becoming more widespread. We badly need politicians who start telling us about what the world is going to be like afterwards, and painting a hopeful vision about it.