What happens when cognitive tasks can be done at zero marginal costs? Co-CIO Greg Jensen explores some of the potential impacts that advancements of AI/ML technology could have on companies and the economy, including an extreme scenario that could potentially produce “explosive growth.”
Humans don’t provide value by being a sink for economic activity. The fact that humans have certain needs and wants currently directs the economy, but if productivity can be decoupled from satisfying those needs and wants then there’s no remaining role for humans as consumers who don’t produce.
Businesses specialized in satisfying human needs and wants won’t do very well, but they won’t be the whole economy and eventually they won’t be a significant part of the economy at all. Robots making robots that make robots is a steady state…
Humans don’t provide value by being a sink for economic activity. The fact that humans have certain needs and wants currently directs the economy, but if productivity can be decoupled from satisfying those needs and wants then there’s no remaining role for humans as consumers who don’t produce.
Businesses specialized in satisfying human needs and wants won’t do very well, but they won’t be the whole economy and eventually they won’t be a significant part of the economy at all. Robots making robots that make robots is a steady state…