The Sum of All fears in 2050!
What if Google cracked the code and created Artificial General Intelligence (AGI). A machine that is capable of thinking just like us, and feel its existence like we do! This machine can literally invent anything, because it can outsmart us in magnitudes that we can’t even imagine. Or the AGI decides to kill us all! Lets back up a little bit from this apocalyptic scenario!
Currently AI is outsmarting us in many specific tasks! Yes, they can’t think about medicine and pollution at the same time, or think from one area of knowledge to another like we do! However, on a specific task like figuring out your tax returns, it probably can do it much faster and better than an expert human. AI powered robots would even do more complex tasks, such as medical stitching or minor laser surgery. Today, we can almost automate any specific job with the current technologies available.
Lets not forget that every year in the world of machine learning, AI technology and robotics only becoming more advanced, and soon humans would not be able to keep up!
All that raises one economical question! When machine learning companies start to sell their advanced software to replace humans (Which already begun), how this would affect the unemployment rate?
According to a white house report on this issue (here is the link to the report: goo.gl/bVT3pE), US job loss may suffer up to 47% in the coming two decades. We are barely keeping up with the current job loss rate because of normal economic factors that we got use to, such as companies becoming bankrupt. Adding an additional factor that promote reduction of cost, hence Artificial Intelligence and advanced automation in a capitalist economy, jobs will be replaced with computers and robots in an exponential rate. Here are couple of examples of companies started to replace humans with advanced AI and automation:
Here is an important note, some would argue that robots are only going to replace low skilled workers and creating programmed robots are easy, and been done for decades now. Like I mentioned, every year we are becoming more advanced with AI. Eventually, AI would be able to program itself to create a robot and make it do a job. So, we will have AI tell robots to make smart robots run by AI! And we already getting there!
The above links shows only the beginning!
Here is another funny issue, population growth!!! In 2050 we will be almost 10 billion. That is a big jump from 7.5 billion that we have today. An increase of 33% in just 33 years. Add to that a global increase in unemployment rate!! What a beautiful combination!! If I was the devil, I would be so happy!
Here is another fate question: what will happen with people who live in an economy that states: if you don’t have a job you are screwed! (Exactly what we have today everywhere)??
As we are growing faster then ever before and losing human jobs faster than ever before, simply there will not be enough jobs for majority of people on planet earth to cover their life expenses.
But wait there is more!!! Electric Transportation!! Ow yes baby, we can’t forget about the economic issues related to this one! Currently, the price of oil is around 50 dollars, and about 70% of oil consumption in US alone goes on transpiration. Now Tesla made a huge revolution in electrical cars, which set an example to all automakers around the world on what is the future of transpiration. Today, almost every automaker is thinking, or already begun making electrical means of transpiration. This is like the 90s and the beginning of internet fiesta, everyone is excited about it! Now, you can’t go to the bathroom without your cellphone to check your Instagram.
What if I tell you that by 2050 majority of new cars offered for sale will be electric cars. What will happen to the demand for Oil??
To sum it up, the whole world will go bananas in 2050 make sure you save enough gold and silver, roughly 5 — 10% of your income should be good, and create a cash cow as soon as possible!! Nothing will save you from greed. Sorry to be so dramatic, but its the truth. All world economies are not ready for such fast changes in technology, and does not favour poor people. If you think we won’t allow this to happen and you don’t believe me, take a look at what caused the 2008 economic collapse and the level of greed was involved on the expense of honest people.
I’m not against technology or inventing new things. I’m just saying we are greedy bastards!
P.S Not factoring upcoming wars and potential financial collapses!!