alt Hacker NewsHistorically, this is not how technology that improves productivity has affected the economy. I’d encourage you to learn more about economics and the history of automation.
Historically, this is not how technology that improves productivity has affected the economy. I’d encourage you to learn more about economics and the history of automation.
Doing this stuff is literally my job.
Large banks have tens of thousands of call center employees and a large % of calls they handle are perfectly solvable with a good AI bot. They are working very hard to cut call center staff as quickly as possible.
People don't realize how much a call to customers service costs. Back when I was at MSFT, a call to tech support for our product costs $20 to have someone pick up the phone. Since we were selling low margin HW, a single call to tech support completely erased the profit from that product's sale.
Layoffs have already happened and they will continue to happen.
One can argue this is a positive, as a customer if I can push a few buttons and issue a voice command to an AI to fix my problem instead of waiting on hold, that is a net positive. Also the price of goods will drop since the expected cost of customer service factored into the product price will drop.
E.g. $30 / support call, 1 in 10 customers call support during the lifetime of a product, $3 saved, but the way costs are structured, $3 saved in manufacturing can end up as nearly $10 off the final retail price of a product.
(And in competitive markets prices do drop when cost savings are found!)