Source: Fortune
Summary
Nouriel Roubini, a top economist, predicts that artificial intelligence (AI) will revolutionize the labor market, making universal basic income or socialism inevitable. He believes that AI will replace a large chunk of the population in the next 20-25 years, and that raising the retirement age will not be sufficient. Roubini suggests that governments will need to provide a guaranteed amount of money to people, either through universal basic income or by taxing the “winners” and redistributing the money. He also mentions that AI companies are willing to hand over stakes to the government, citing a report that OpenAI has discussed giving 5% as a way for the public to share in the upside of AI.
Our Reading
The numbers tell one story.
Roubini’s prediction of AI replacing a large chunk of the population in the next 20-25 years sounds alarmingly familiar. The idea of universal basic income or socialism as a solution is not new, but the urgency is growing. The fact that AI companies are willing to hand over stakes to the government adds a new layer of complexity. Roubini’s optimism about 10% growth and “machines doing all the work” is a stark contrast to the usual doom-and-gloom predictions. The mention of Elon Musk’s similar vision of a future where working becomes optional adds to the sense of inevitability.
Roubini’s forecast may not be gloomy, but it’s a wake-up call for those who think they can escape the AI revolution unscathed.
Author: Evan Null
