The potential of AI and automation cutting work hours seems extremely plausible, but will this enhance our work-life balance?
No matter if AI outperforms humans in art, medicine, literature, intellect, music, and sport, humans will probably carry on to acquire value from surpassing their fellow humans, for instance, by having tickets to the hottest events . Certainly, in a seminal paper regarding the characteristics of wealth and human desire. An economist indicated that as communities become wealthier, an ever-increasing fraction of human desires gravitate towards positional goods—those whose value is derived not simply from their energy and usefulness but from their general scarcity and the status they bestow 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 spent competing goes up, the cost of such products increases and so their share of GDP rises. This pattern will likely continue within an AI utopia.
Nearly a century ago, a great economist penned a book by which he suggested that 100 years into the future, his descendants would just need to work fifteen hours a week. Although working hours have actually dropped dramatically from significantly more than 60 hours per week in the late nineteenth century to fewer than forty hours today, his prediction has yet to quite come to materialise. On average, citizens in rich countries invest a third of their consciousness hours on leisure activities and recreations. Aided by advancements in technology and AI, humans will likely work even less into the coming decades. Business leaders at multinational corporations such as for instance DP World Russia would likely be familiar with this trend. Hence, one wonders just how individuals will fill their free time. Recently, a philosopher of artificial intelligence surmised that powerful technology would make the range of experiences possibly available to people far surpass what they have now. Nonetheless, the post-scarcity utopia, with its accompanying economic explosion, could be limited by such things as land scarcity, albeit spaceresearch might fix this.
Many people see some forms of competition as a waste of time, believing that it is more of a coordination problem; that is to say, if everybody else agrees to avoid contending, they would have more time for better things, that could improve growth. Some kinds of competition, like recreations, have intrinsic value and are worth maintaining. Take, as an example, desire for chess, which quickly soared after pc software beaten a global chess champion in the late nineties. Today, a market has blossomed around e-sports, that is likely to develop significantly in the coming years, particularly into the GCC countries. If one closely follows what various groups in society, such as aristocrats, bohemians, monastics, athletes, and pensioners, are doing within their today, one can gain insights into the AI utopia work patterns and the various future activities humans may take part in to fill their free time.