Why AI Will not lead to a World without work
AI has stirred fears of a future where machines will take all our jobs, leaving humans without work.
However, historical and economic evidence suggests otherwise.
Technology, including AI, tends to reduce costs and prices, thereby increasing real incomes and creating new job opportunities that offset those lost to automation.
Despite numerous predictions of technological unemployment, the U.S. economy has for more than 100 years consistently added new jobs, even amid rapid technological advancements, such as the steam engine.
Yes, they said the same thing when that happened…