Imagine a world where robots do your job — not alongside you. Instead of you. A world where automation isn't a distant threat, but a reality hurling millions of people into unemployment. I’m not talking about a nightmare scenario with robots physically taking over. I’m talking about a world where human’s are “in surplus”.
I think we’re headed there.
JP Morgan Chase CEO Jamie Dimon said recently in his shareholder letter that AI is going to impact virtually every job in the company. Certain roles will be impacted more than others, and it’s his belief that its his companies job is to retrain and retool their workforce. To do what, exactly? That remains unseen.
It’s not going to take forever for AI to wash over the whole of humanity. It’s happening incredibly fast and in a few short years we’ll be nearing the tipping point for the majority of workers to be experiencing some type of impact to their roles. AI is going to alter the lives 44% of the workforce in some way over the next 5 years (World Economic Forum). There’s no certainty that it is going to be altered for the better.
How will we adjust social and corporate responsibility in order to take care of the world’s humans better than we were yesterday? Shouldn’t we be obsessing about solar power or saving the planet?
AI’s Promise:
It’s my hope that they hold the the keys to the social funds that are going to be required to stave off the collapse of certain entities. Maybe people outside of the United Nations, or International Monetary Fund will notice this, too, before it’s too late.
AI promises a utopia of efficiency, but the road there could be paved with incredible amounts of social unrest. And in my version of how this unfolds - there’s even some physical and civil unrest. It’s a grim prediction, I know. It doesn’t have to happen and we can take steps to alleviate some of the pressures and change the circumstances, proactively. When it comes to particular populations being impacted, research points to a few communities being particularly vulnerable:
Developing nations with young populations: Countries with a high number of young people entering the workforce could see skyrocketing unemployment rates as AI disrupts traditional industries like manufacturing and agriculture. This frustration, coupled with limited social safety nets, could create a breeding ground for social unrest.
Regions dependent on resource extraction: Places heavily reliant on industries like mining and oil production are at risk. AI could automate these processes, leaving entire communities jobless. Imagine a ghost town in the heart of a once-booming oil field, a stark symbol of progress leaving people behind.
Areas with existing economic instability: Regions already grappling with poverty and inequality will be especially vulnerable. AI-driven job displacement could push these communities over the edge, leading to social unrest and political instability.
This isn't about demonizing AI, but acknowledging its potential downsides. The question isn't "are robots good or bad?", it's "how can we harness this technology responsibly?". We need to be proactive.
Investing in retraining programs: Equipping people with the skills needed for the AI-powered job market is crucial.
Strengthening social safety nets: Supporting those displaced by automation will help mitigate economic hardship and social unrest.
Open dialogue: Honest conversations about the challenges and opportunities of AI are essential.
The future of AI doesn't have to be dystopian. By acknowledging the risks and working together, we can ensure AI becomes a tool for progress, not a harbinger of chaos. Right?
AI and Developing Economies:
UNCTAD discusses AI widening the gap between nations.
AI and Social Issues:
AI and Human Interaction:
The rapid advancement of AI prompts the need for increased human interaction and emotional intelligence, topics explored in numerous psychological studies. This raises questions about what it means to be human in a world where machines can perform many of our roles. More than ever, attributes that cannot be replicated by machines – empathy, creativity, intuition – are becoming invaluable.
Regulation on AI:
Indeed, policy makers worldwide are grappling with the issue of regulation. From Brussels to Beijing, leaders are trying to strike a balance between fostering innovation and protecting their citizens. Stringent laws could throttle AI growth, but a laissez-faire approach could leave communities vulnerable to the technological 'Wild West.'
Roles of Tech Giants:
The nexus of innovation in this field is undoubtedly the tech hubs in Silicon Valley and beyond, where giants like Google, Facebook, Apple and Amazon have taken a leading role in the development of AI. What responsibility do these companies bear? How can they ensure the equitable distribution of AI benefits while avoiding its pitfalls?
Educational Reforms:
Lastly, l believe it's imperative we look into educational reforms. If machines are to assume the repetitive and skill-based jobs, then our education systems should focus on helping learners become critically-thinking, creative and collaborative problem-solvers. Less emphasis on rote learning, more on adaptability in our fast-paced, ever evolving world.
The imperative isn't to halt the development of AI, but to manage its evolution wisely. Yes, it implies risks that cannot be overlooked. But it also provides opportunities. If we're to harness its full potential while mitigating its potential harm, clear-eyed assessment of its impact, frank dialogue, and forward-thinking measures are crucial.
Perhaps an AI-driven world is a foregone conclusion, and the so-called age of surplus humans is inevitable. The challenge continues to be how we navigate this complex roadmap – ethically, humanely, and responsibly.
AI could fulfill its promise of utopia, but only if we're prepared to make the journey as inclusive as possible. Providing everyone with the means to evolve with the technology should be non-negotiable, if we are to avoid the dystopia that so many fear. Let’s move forward mutually, not by leaving anybody behind. Because at the end of the day, we’re moving toward an AI world, but it still remains a human world.