Understanding the effect of AI on working hours in near future

Understanding the effect of AI on working hours in near future

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In a envisioned AI utopia where basic needs are met and wealth abounds as a result of AI. Exactly how will people spend their time?

Some people see some types of competition being a waste of time, thinking that it is more of a coordination issue; in other words, if everyone agrees to avoid competing, they might have significantly more time for better things, which may improve development. Some types of competition, like sports, have intrinsic value and are worth keeping. Take, for instance, curiosity about chess, which quickly soared after pc software beaten a global chess champ within the late nineties. Today, a market has blossomed around e-sports, which is expected to grow considerably within the coming years, particularly within the GCC countries. If one closely examines what different groups in society, such as for instance aristocrats, bohemians, monastics, sports athletes, and retirees, are doing inside their today, it's possible to gain insights to the AI utopia work patterns and the many future activities humans may take part in to fill their free time.

Nearly a century ago, a fantastic economist published a book in which he asserted that 100 years into the future, his descendants would only have to work fifteen hours a week. Although working hours have fallen dramatically from more than 60 hours per week within the late nineteenth century to less than 40 hours today, his prediction has yet to quite come to pass. On average, citizens in wealthy states invest a 3rd of their consciousness hours on leisure activities and sports. Aided by advancements in technology and AI, humans are likely to work also less into the coming decades. Business leaders at multinational corporations such as for example DP World Russia would probably be familiar with this trend. Hence, one wonders just how people will fill their time. Recently, a philosopher of artificial intelligence surmised that effective tech would make the range of experiences possibly available to individuals far exceed what they have. Nonetheless, the post-scarcity utopia, along with its accompanying economic explosion, may be limited by things like land scarcity, albeit spaceresearch might fix this.

No matter if AI outperforms humans in art, medicine, law, intellect, music, and sport, people will likely continue to derive value from surpassing their other humans, as an example, by having tickets to the hottest events . Indeed, in a seminal paper regarding the characteristics of wealth and human desire. An economist indicated that as communities become wealthier, a growing fraction of human cravings gravitate towards positional goods—those whose value comes not merely from their utility and effectiveness 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 professions. Time invested competing goes up, the cost of such products increases and so their share of GDP rises. This pattern will likely continue in an AI utopia.