Once a robot can do everything an IQ 80 human can do, only better and cheaper, there will be no reason to employ IQ 80 humans. Once a robot can do everything an IQ 120 human can do, only better and cheaper, there will be no reason to employ IQ 120 humans. Once a robot can do everything an IQ 180 human can do, only better and cheaper, there will be no reason to employ humans at all, in the unlikely scenario that there are any left by that point.

Machines are making great progress on the IQ 180 front, and now with this it looks like they’ve opened a beachhead from the other direction too. Classic pincer move.

  In the earlier stages of the process, capitalism becomes more and more uncoupled from its previous job as an optimizer for human values. Now most humans are totally locked out of the group whose values capitalism optimizes for. They have no value to contribute as workers – and since in the absence of a spectacular social safety net it’s unclear how they would have much money – they have no value as customers either. Capitalism has passed them by. As the segment of humans who can be outcompeted by robots increases, capitalism passes by more and more people until eventually it locks out the human race entirely, once again in the vanishingly unlikely scenario that we are still around.

https://www.slatestarcodexabridged.com/Meditations-On-Moloch