The Impact of AI Revolution on the Economy: Industries that will Thrive and Collapse
EconomyLabor and EmploymentThis article explores the potential impact of an AI Revolution and cognitive labor Revolution on the economy, as well as the industries that may thrive or collapse in a post-labor economy.
The Future of Work in a Post-Labor Economy
⚙️Post-labor economics predicts significant changes in the economy when human labor is no longer required.
🏭Investing behavior suggests a shift towards industries that are likely to stick around.
🌐Digital goods and services, such as legal services and entertainment, are already being produced on-demand, and local manufacturing of physical goods may also become more common.
🌱Sustainable tech, energy, and experience industries are predicted to thrive.
💰Financial automation may lead to the restructuring of industries like insurance.
The Rise of AI in Science and Healthcare
🔬Labs like DeepMind are creating AI models, such as Alpha fold, that significantly advance scientific capabilities, particularly in protein folding prediction for drug discovery.
🌲Billionaires like Bill Gates are investing in forest land and farmland as they foresee the decline of financial industries and healthcare.
👩⚕️AI doctors and robot doctors may become preferred over human doctors due to better outcomes and lower costs.
🚗Once full self-driving is achieved, it might be illegal for humans to continue driving, except in certain circumstances.
💸Reduced aggregate demand is a major economic signal to be concerned about.
FAQ
What industries are likely to thrive in a post-labor economy?
Sustainable tech, energy, and experience industries are predicted to thrive.
Why are billionaires investing in forest land and farmland?
They foresee the decline of financial industries and healthcare.
What are the potential implications of financial automation?
It may lead to the restructuring of industries like insurance.
How might the rise of AI impact the healthcare industry?
AI doctors and robot doctors may become preferred over human doctors due to better outcomes and lower costs.
What are the potential legal implications of full self-driving technology?
It might be illegal for humans to continue driving, except in certain circumstances.
Summary with Timestamps
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This article explores the potential impact of an AI Revolution and cognitive labor Revolution on the economy, as well as the industries that may thrive or collapse in a post-labor economy.
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