The veneer of civilization is thin. It is partly sustained by a set of norms that people adopt and expect of others. When those norms are violated, the center cannot hold. We are in big trouble.
@Santiag78758327@NikoLahanas Automation can be targeted to fulfill unmet needs that could lead to social unrest, such as food production and the autonomous building of housing. Providing “purpose” to those displaced is another issue entirely
@Santiag78758327@NikoLahanas This is a pretty profound statement that I won’t be able to fully unpack in 140 characters. But if you agree that humans will be the arbiters of what is considered “value” (at least until singularity is achieved 😄) then all may not be lost after all
@Santiag78758327@NikoLahanas By end game do you believe all opportunities for them at that point will be lost to automation or that such opportunities will look different than they do today?
@Santiag78758327@NikoLahanas You are absolutely correct in the long term, but would the issue of scale not come into play in the short to mid term? Until AI/automation reaches a much higher point of maturity, the owners of capital must rely (and therefore pay) on high skilled workers
@JoelKatz@intelliot One doesn’t have to be a genius necessarily to compete successfully in this kind of labor market, however I believe income inequality will increase further as a result of automation
@JoelKatz@intelliot My view is that it’s both. Low skill labor will continue to suffer to the extent it can be automated (see McDonalds kiosks) while those with more technology-based skill sets will benefit as the word becomes more digitized.
@Santiag78758327@NikoLahanas Until automation reaches a point of self development and maintenance, I see further polarization of the labor force, and by consequence income inequality.
@Santiag78758327@NikoLahanas So from your perspective it is not a matter of if but rather “when”? My view is that increased automation will undoubtably come, but to the benefit of high-skill workers and the detriment of low skill workers.
@JoelKatz@intelliot Automation does not decouple the link between labor and productivity but rather further polarizes the skill set of the labor force to which the automation pertains. Those who develop and maintain the automation will flourish while those who have their skill sets replaced suffer
@JoelKatz@szv6y0@XRPTrump@ShirKhan1981@JoelKatz have potential transfer pricing issues / efficiencies with respect to this structure been taken into account? The tax structure of such an arrangement could be highly beneficial for banks/FIs if structured properly....