Imagine this scenario:
- All companies start producing mostly using only AI and firing people, because people have no use anymore
- Joe spend most of his income on digital video games products
- Joe get fired because he got replaced by AI now, since AIs are taking over most jobs
- Joe has no income anymore
- Joe doesn’t have any more money to spend on video games
- Companies have no more profit, because people don’t have income, so people can’t spend on their AI produced products
In this scenario both lose, the company adopting AI and the worker. Am I missing something? Is there any possibility besides Universal Basic Income to keep the system running and not collapsing?
Eh, the US gov’t has a pretty solid track record of “bailing out” with “loans” and then “forgiving” them, aka free money for the C-suite.
Yes, but historically companies that receive bailouts pay them back at a minimum in part. But very often they are completely repaid.