• AI is changing the way we work and live, but it is not necessarily creating or destroying jobs.
• The impact of AI will be felt in mid–level white collar jobs, not in low–skilled blue–collar jobs.
• Over the past five years, the greatest increase in take–home pay has been for low–skilled blue–collar workers, helping to narrow economic inequality.
• Retiring Baby Boomers are liquidating investments and going into low–risk investments, which does not fund startups or larger tech companies.
• There is also a global shortage of 20–30 year olds to do research and development of these technologies.
• We are still far from a breakthrough in General AI, which is necessary for machines to be able to think and act independently.
• Applied AI is more like machine programming, which is limited in its scope.
• Universal Basic Income is not the answer, as productivity has stalled and labor shortages mean more people are in work than ever before.
• AI is real and will change how we work and live, but the impact is likely to be different than expected.
You can watch the full Is the AI Revolution Here? on YouTube – Published January 30, 2023
