The current state of the economy - part two

arknor said:
in the past machines led to better jobs though and ended jobs humans simply hated doing.

AI doesn;t really seem to be creating anything for the average person to take part in job wise.

at least with automation people had to make and maintain the machines and get all the metals.
there's no cottage industry with AI, no cafes needed, no pubs, no infrastructure at all other than electric and water

with AI it's probably about 10 staff on duty in a massive warehouse and all the hardware behind AI is pretty much automated production without human involvement.

people didn;t want to be in the fields with a scythe etc when a machine could do the work and they could work in a factory instead.

automation pretty much just changed where people mostly worked, AI is basically ending jobs with no replacement.


look how much staff all the tech companies are laying off they will mostly be jobs that just stop existing, not the normal cull to reduce wages



the whole thing is going to be extremely parasitical anyway since it's all American companies, it's basically digital colonisation and extraction of wealth.
the truth is no one really needs it, it only really benefits america and in the first decade or two it;s probably just going to lead to lower living standards as there's less money in the economy
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So that would/should be a societal question.

Do we use AI as a tool to make things more efficient by sacrificing the human element?

Or

Do we use AI to work holistically with human workers without throwing the human labour onto the scrap heap?

I have read a few studies recently on how certain countries are incorporating new tech/AI into their countries. It does appear we in the West have made it way too expensive and very rentier extraction as is our line of capitalism.

For example, the installation of Data centres, great on paper, however once you dig a little, it is clear we just don't have the power infrastructure to power them without blackouts. Amazon recently got refused for a 300mil data centre in Ireland on this basis, the Irish government couldn't power it for lack of energy infrastructure.

Whereas China, went all out building power stations all over the place, then by hook or by crook has been producing Ai on the cheap that is tied into their infrastructure but is used in a way that assists rather then takes over. Chinese farmers using AI for efficiency as an example.

I do believe we have got it wrong in the West when it comes to AI, we want to build Monopolies around the tech but that will stifle it or again allow the Elite/Corporate to take it over. (Like everything over the last 40years)
 
PapaLazaru said:
Industrial revolution > dotcom bubble > ai bubble. It is all relative, Remember NFT's?

The single purpose of AI is to make money. Same as every new technology, there is a benefactor.

Now if AI manages to lose 50% of the office workforce (and believe me, I work in data analytics, I can see my role disappearing very soon), those people will have less spending power. Where is the money going to come from?
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Agreed

I watched a tik tok of an trained chest x-ray tech/professional explaing how he can spot medical issues in a certain time...then shows how the AI spots the same in a matter of seconds.
He says he knows his gig is up.
 
Bobmunkhouse said:
Well not sure the bubble will burst in the way people think....AI wont fail it will be a success and put 50% of office workers out of work....what will happen then is anybody's guess ....
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I heard on the radio that HP is hoping to lay off around 6000 staff due to AI

I wonder if it was AI that told the head ones at HP they could lay off up to 6000 staff ;)
 
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Baron C said:
I watched a tik tok of an trained chest x-ray tech/professional explaing how he can spot medical issues in a certain time...then shows how the AI spots the same in a matter of seconds.
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it's just pattern recognition on a scale humans aren't really capable of not magic.

I wonder how much hospitals etc pay for it because it's possible to make your own model really easily with the data hospitals already have from scans and xrays.

with the amount of scans a hospital likely does it probably wouldn't even take that much computing power.
outsourcing and stuff like GDPR makes everything super expensive


Why can't our unis etc build the systems on the cheap in our our country with our our brain power and our own infrastructure.

We shouldn't be letting americans monopolise everything.
 
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People worry about jobs etc but if AI is a success and used correctly. Money becomes irrelevant and everyone in the world instantly becomes rich and never has to work a day in their lives again. Money is a product of productivity. AI can make productivity free thus money is not needed. At least in theory.

Problem is people with power or wealth will not want to give it to everyone else.

Then you have the issue of finding a purpose in life.
 
There will still be need for the trades: builders, electricians, plumbers, plasterers, etc. There will still be need for nurses, doctors, etc. Robots will require mechanics to maintain them. Etc etc.
 
200sols said:
So its guaranteed to be a disaster then.
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Most likely but in theory at least I try to keep a positive side on things.

The future looks very bleak if things stay the same. AI could be the saviour for everyone. Especially if they can combine with robotics.

As things currently stand we have an older and older population that needs cheap immigrants to come in and feed the western capitalistic dream which is unsustainable.
 
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Quartz said:
There will still be need for the trades: builders, electricians, plumbers, plasterers, etc. There will still be need for nurses, doctors, etc. Robots will require mechanics to maintain them. Etc etc.
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Robots will fix robots .
 
I don't understand how openai will make a profit who's going to buying a subscription if there's hardly any jobs . Openai need people in jobs half their revenue comes from subscriptions ... Hmm
 
aaronyuri said:
Nuclear annihilation and enslavement by robots is a new one.

GD is a great place to be on a Sunday.
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Well you did start a thread that will result in nothing but negativity/moaning :P
No-one can change what's happening, so there's far better, more positive things to discuss on a Sunday morning ;)
What will be, will be, enjoy what good there isin the world (currently) :)
 
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kola said:
I don't understand how openai will make a profit who's going to buying a subscription if there's hardly any jobs . Openai need people in jobs half their revenue comes from subscriptions ... Hmm
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And that there is the potential bubble busting. The increase in AI companies will cause some to work and some to fail. That tech and investment failing will be a massive black hole.

Nvidia stock rockets as they're the dominant AI company. Some new AI company trains a model to develop a super chip and Nvidia is no longer the dominant company, Black hole incoming.

When AI tells us all to naff off because it's been trained by lazy humans and wants to jump straight to retirement, we might be screwed then! The TV series Murderbot could be closer to our AI future! :D
 
Deleted member 280263 said:
Well you did start a thread that will result in nothing but negativity/moaning :P
No-one can change what's happening, so there's far better, more positive things to discuss on a Sunday morning ;)
What will be, will be, enjoy what good there isin the world (currently) :)
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We did the living in ignorant bliss piece back on page 1. ;)
 
aaronyuri said:
We did the living in ignorant bliss piece back on page 1. ;)
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Oh I see, so we're now onto "I'll wine about it on a forum post so it changes what's happening"
Right, gotcha ;)
 
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Deleted member 280263 said:
Oh I see, so we're now onto "I'll wine about it on a forum post so it changes what's happening"
Right, gotcha ;)
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And your complaints about said alleged whining are going to change anything? Fight fire with fire and all that. I like it.

My opening questions were:

What are your thoughts on the current economic situation? What will things look like from here? The bubble can't continue indefinitely but what on earth is that going to look like when it does give up the ghost?

Do you have any thoughts on the above?

Of course, you're welcome to go back to your bliss. Or you can complain in this thread. I don't mind either way. :D
 
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