Discussion – A.I. Displacing Jobs
Artificial Intelligence is now a reality capable of replacing both white-collar and blue-collar jobs. We discuss.
White collar jobs: legal, accounting, banking, coding, IT, etc.
- Bloomberg – Goldman A.I. will Replace Human Assembly Line at the Bank
- Bloomberg – Standard Charter Bank to eliminate 8000 backoffice jobs through A.I.
Blue collar jobs: assembly, manufacturing, construction, farming, etc.
- WSJ – Jeff Bezos $100Bn Transforming Manufacturing Co’s with AI / Robotics
- Bloomberg – Terafab for Musk’s Robotics and AI Ambitions
Combined with mass layoff announcements now becoming the Wall Street norm, achieving instant stock price lifts (pricing in future efficiencies and profit expectations): WSJ – The Era of Mega Layoffs What does it all mean?
Background A.I. Bubble?
The Human Ethic
We discuss the ethics of job creation vs. profits and automation. We examine the combination of such secular trends as: the depersonalization of finance, the obscuring and reduction of the value of human dignity and work ethic, relentless drive for shareholder profits, and automation.
How Storehouse Communities and local business can counteract the corporate trends and provide essentials like food sustainability. Even with help of A.I. and automation. But while maintaining and preserving the liberty and purity of the gospel (Fundamental Orders of Connecticut). Under our own “Vineyard and Fig Tree” (Washington’s letter to Hewbrew Congregation in Newport, RI) .
We had a discussion not that long ago about the post-pandemic hiring spree… The “Great Resignation” But oh, how things have changed…
Job Loss is Real
Now we see the opposite happening, especially among recent grads, entry level jobs and younger workers. Where AI has directly uncut job offers and job positions. One CEO even went so far as to say to shareholders that he planned to eliminate 8000 “lower value human capital” jobs. Wow. That’s cold.
A trend has emerged across college campus commencement ceremonies. Booing A. I. Why? Students can’t get entry level jobs now – directly related to A. I. disintermediation. Strange but true. See video and articles below.
- Bloomberg – Students protest AI at graduation
- Bloomberg – Standard Charter’s CEO comment on Lower Value Humans
Look at the blue line on the graph below. For the first time, young educated workers unemployment is higher than older experienced workers with or without college education. This undermines the value of a college education. At the very time student debt is at all-time highs.
UBI? UHI? Socialism?
Elon Musk has announced his concept of UHI (Universal High Income) – government monthly checks (think Universal Basic Income) because eventually people won’t have to work given improvements in A. I. and robotic tech: Business Insider – Musk’s UHI (Universal High Income)
A.I. Unprecedented Demand: Bloomberg – Open AI Sees Vertical Wall of Demand
Crazy Take but Interesting Analysis
China
How is China handling this?
Chinese government implements labor restrictions to counteract job losses: Bloomberg – Chinese Court Rules That Workers Cannot Be Laid Off on AI Grounds
A Jewish Perspective
Berel Solomon’s Facebook Post on value of educating children in Torah vs. making money
Pope Weighs In
WSJ – Pope Compares AI Threat to Tower of Babel
Bloomberg – Pope Says AI Should Not Dominate Humanity
Full Text – Magnifica Humanitas
Anthropic Co-founder Chris Olah Addresses Pope Leo
Anthropic
Anthropic is unique in the AI space. They are one of the few AI pioneers who is actually sounding the alarm of moral ethical risks and have researched and written extensively on the topic.
Anthropic is also leading research on AI consciousness which in turn could lead to the more dystopian ideas of “Sentinet AI” and “Artifical General Intelligence.”
Right now, Anthropic is considered the market leader in having the top AI chat bot, Claude. It is incredibly effective in writing, coding, military applications, and finacial analysis.
The Amodei siblings have come out of VP development role in Open AI (Chat GPT) to found Anthropic. What they’ve built is so good, Open AI offered to merge their two companies together and give Dario Amodei, Sam Altman’s job. They turned the offer down.
Anthropic Articles
Survey on AI Economics and Job Displacement
Bio
Dario Amodei was born in San Francisco, California, in 1983. His sister, Daniela, was born four years later. His father, Riccardo Amodei, an Italian-American leather craftsman from Massa Marittima, Tuscany, died when Amodei was a young adult. His mother, Elena Engel, a Jewish American born in Chicago, worked as a project manager for libraries.
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