The Impact of AI (Artificial Intelligence)
Artificial intelligence (AI), sometimes called machine intelligence, is intelligence demonstrated by machines, in contrast to the natural intelligence displayed by humans and other animals.
-Wiki
AI will certainly replace monotonous repetitive work, but it doesn’t stop there. Do you think the current Self-driving systems just replace a monotonous repetitive driver Job? AI is heading to more complex Jobs!
Will AI collapse the world economy?
On a long run, as AI takes over, people become unemployed or their wages fall, consumers will have less purchasing power to buy the products and services produced by the economy. As a result, there will be less and less demand.
Example if Netflix incorporates AI, Then a few Netflix engineers might lose Jobs and will not have the income needed to buy Netflix services.
Fortunes of the companies incorporating AI will raise drastically to see it fall then on.
You might be more interested to know on 'Post-scarcity economy'
Will AI replace jobs only in the developing economy ?
Yes, most of the monotonous repetitive work that’s currently outsourced to developing economies will be taken over by AI, but a relatively inexperienced, but a smart worker in a developing economy with these very powerful artificial intelligence-enabled tools will be able to compete with a much more experienced worker in the developed World.
The last job on Earth: imagining a fully automated world | Guardian Animations
If you think your Job is safe from AI ., Then this video is for you
Humans Need Not Apply
