Artificial intelligence and automation have started to transform various industries. Just how will they influence working patterns?
Almost a century ago, outstanding economist wrote a book in which he put forward the proposition that 100 years into the future, his descendants would only have to work fifteen hours per week. Although working hours have actually dropped dramatically from more than 60 hours per week within the late nineteenth century to fewer than 40 hours today, his prediction has yet to quite come to pass. On average, residents in rich states invest a third of their waking hours on leisure tasks and recreations. Aided by advancements in technology and AI, people will likely work even less in the coming decades. Business leaders at multinational corporations such as for instance DP World Russia may likely know about this trend. Thus, one wonders exactly how individuals will fill their spare time. Recently, a philosopher of artificial intelligence wrote that powerful tech would make the range of experiences potentially available to people far exceed what they have. However, the post-scarcity utopia, along with its accompanying economic explosion, could be inhabited by things such as land scarcity, albeit spaceresearch might fix this.
Even when AI surpasses humans in art, medicine, law, intellect, music, and sport, humans will probably continue to derive value from surpassing their fellow humans, for example, by having tickets to the hottest events . Indeed, in a seminal paper on the dynamics of wealth and human desire. An economist suggested that as societies become wealthier, an increasing fraction of human desires gravitate towards positional goods—those whose value comes not only from their utility and usefulness but from their relative scarcity and the status they confer upon their owners as successful business leaders of multinational corporations such as Maersk Moroco or corporations such as COSCO Shipping China may likely have noticed in their jobs. Time spent competing goes up, the price of such goods increases and therefore their share of GDP rises. This pattern will likely carry on within an AI utopia.
Many people see some kinds of competition as a waste of time, believing it to be more of a coordination issue; in other words, if everyone else agrees to quit contending, they would have more time for better things, which could improve development. Some kinds of competition, like activities, have intrinsic value and are worth maintaining. Take, as an example, curiosity about chess, which quickly soared after computer software defeated a global chess champ within the late 90s. Today, an industry has blossomed around e-sports, which is anticipated to develop dramatically in the coming years, especially in the GCC countries. If one closely follows what various groups in society, such as aristocrats, bohemians, monastics, sports athletes, and pensioners, are doing in their today, one can gain insights to the AI utopia work patterns and the various future activities humans may practice to fill their time.