How Is AI Going To Influence The Economy In The Future?

As we all know, virtual reality and artificial intelligence are slowly but surely taking over vast fields of the economy in many countries. The modern technology is a constant growing curve, and nobody can stop this trend. However, instead of stopping it, we should be more focused on controlling it. This situation may sound like a scene from a sci-fi movie, but we could end up jobless and homeless because many companies substitute humans with machines.

AI

Mark Benioff, the CEO of Salesforce said –

“Technology’s always taken jobs out of the system, and what you hope is that technology’s going to put those jobs back in, too. That’s what we call productivity. I think a lot of people don’t understand how deep AI already is in so many things.”

Although the scenario with the AI taking over the world is highly unlikely, it raises some concerns.

The concerns

The benefits of automated production are pretty obvious. Robots are much more productive than humans will ever be. Also, robots don’t require a vacation, sick leave, or bonuses. Furthermore, they don’t organize unions, a complaint about the pay or the minimal wage.

AI robot

As we can see, robots are a much better solution for any large company in comparison to the raw workforce. As far as the economic fear goes, it’s simple. Once your company hires a robot in your position, you won’t be a necessity for the company, and you’ll get fired.

Mr. Mark Benioff said –

“What you hope is that the technology doesn’t outpace the system so that it starts to strip the jobs away, and that’s the fear of artificial intelligence.”

He also addressed the struggle between the modern technology and its contribution to the economy. In his opinion, the most important thing is how are we going to control it.

YourStory-OpenAI (1)

He said,

“Now the question is, with all of this new technology, how do we get growth? But that growth has to be balanced against the trust, because when you have all this new technology, I think that the big question that’s getting asked here is can we trust it?”

Would you trust it?

Peter Daniels

About the Author

Peter Daniels

Leave a Comment:

All fields with “*” are required

Leave a Comment:

All fields with “*” are required