alt Hacker NewsIf the result will be huge job loss doesn't that mean the overall buying power of all across all economies will go down drastically which begs the question who will buy the stuff that these companies that get rid of people are making?
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Exactly. Henry Ford made sure his own employees could afford the cars they were making.
These people making these kind of grand pronouncements either have an embarrassing blind spot, or are not making sincere, but carefully calculated statements.
Just via competition, Chinese researchers are doing much more than Bill Gates could ever hope to do through 'thought leadership' spread the benefits of generative AI.
Prices will also go down dramatically. When you eliminate human labour completely, you are essentially stuck with the problem of efficiently allocating raw materials. And raw materials are abundant compared to what human labour can currently produce. We're still a long way from there though.
Other companies and rich people. Imagine the economy gradually becoming more unequal.
The same exact people that the companies got rid of. The government pays them now instead of their former employer.
The economy is already largely propped up by spending from the wealthiest decile.