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 imagined AI utopia where fundamental needs are met and wealth abounds thanks to AI. Just how will individuals spend their time?

Even when AI surpasses humans in art, medicine, law, intelligence, music, and sport, people will likely carry on to obtain value from surpassing their other humans, for instance, by having tickets to the hottest events . Indeed, in a seminal paper on the characteristics of prosperity and peoples desire. An economist indicated that as societies become wealthier, a growing fraction of human wishes gravitate towards positional goods—those whose value is derived not merely from their energy 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 would likely have seen in their professions. Time invested competing goes up, the price of such goods increases and therefore their share of GDP rises. This pattern will likely continue in an AI utopia.

Some individuals see some forms of competition being a waste of time, believing that it is more of a coordination issue; that is to say, if everybody agrees to stop contending, they might have more time for better things, which could improve growth. Some types of competition, like recreations, have actually intrinsic value and are worth maintaining. Take, for instance, desire for chess, which quickly soared after computer software beaten a world chess champ within the late 90s. Today, a market has blossomed around e-sports, which will be likely to develop notably within the coming years, especially within the GCC countries. If one closely examines what various groups in society, such as for example aristocrats, bohemians, monastics, sports athletes, and retirees, are doing within their today, you can gain insights to the AI utopia work patterns and the various future activities humans may take part in to fill their spare time.

Nearly a century ago, a great economist published a book by which he contended that a century into the future, his descendants would only have to work fifteen hours per week. Although working hours have dropped dramatically from significantly more than 60 hours per week in the late nineteenth century to fewer than 40 hours today, his forecast has yet to quite come to pass. On average, residents in wealthy states spend a 3rd of their consciousness hours on leisure activities and recreations. Aided by advancements in technology and AI, humans will likely work even less within the coming decades. Business leaders at multinational corporations such as DP World Russia may likely be aware of this trend. Hence, one wonders exactly how people will fill their free time. Recently, a philosopher of artificial intelligence surmised that powerful technology would result in the range of experiences possibly available to individuals far exceed whatever they have. Nevertheless, the post-scarcity utopia, along with its accompanying economic explosion, could be limited by things such as land scarcity, albeit spaceexploration might fix this.