The potential of AI and automation cutting work hours appears extremely plausible, but will this enhance our work-life balance?
No matter if AI surpasses humans in art, medicine, law, intelligence, music, and sport, people will probably continue to obtain value from surpassing their other humans, as an example, by possessing tickets to the hottest events . Indeed, in a seminal paper on the dynamics of prosperity and peoples desire. An economist suggested that as societies become wealthier, an ever-increasing fraction of individual desires gravitate towards positional goods—those whose value is derived not only from their energy and effectiveness but from their general 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 seen in their professions. Time invested competing goes up, the price of such products increases and so their share of GDP rises. This pattern will likely carry on within an AI utopia.
Nearly a hundred years ago, a great economist wrote a book in which he asserted that a century into the future, his descendants would just need to work fifteen hours per week. Although working hours have actually dropped considerably from more than sixty hours per week within the late 19th century to less than forty hours today, his forecast has yet to quite come to materialise. On average, residents in rich states invest a 3rd of their consciousness hours on leisure tasks and recreations. Aided by advancements in technology and AI, people will probably work also less within the coming decades. Business leaders at multinational corporations such as for example DP World Russia would probably know about this trend. Thus, one wonders exactly how individuals will fill their free time. Recently, a philosopher of artificial intelligence surmised that powerful tech would make the range of experiences potentially available to individuals far surpass whatever they have. However, the post-scarcity utopia, with its accompanying economic explosion, may be limited by things like land scarcity, albeit spaceexploration might fix this.
Some people see some forms of competition as being a waste of time, thinking that it is more of a coordination problem; that is to say, if everybody agrees to stop competing, they might have significantly more time for better things, which may improve growth. Some types of competition, like sports, have actually intrinsic value and can be worth maintaining. Take, for instance, desire for chess, which quickly soared after computer software beaten a global chess champion in the late nineties. Today, a market has blossomed around e-sports, which will be likely to grow considerably in the coming years, specially within the GCC countries. If one closely examines what different people in society, such as for instance aristocrats, bohemians, monastics, athletes, and retirees, are doing in their today, one could gain insights into the AI utopia work patterns and the various future tasks humans may take part in to fill their free time.