New Study Reveals 60% OF Jobs To Be Impacted By AI (IMF Report)

YouTube commentary (by LARRUZ, uploaded Jan 22, 2024) reviewing an IMF report that finds AI will affect a large share of jobs: about 60% of jobs in advanced/developed economies, ~40% in emerging markets and ~26% in low-income countries. The video explains the IMF's two-dimension framework (occupational AI exposure vs. AI complementarity), highlights which occupations and demographics are more exposed (higher-skilled workers, women in some regions, older workers), and discusses societal risks (job displacement, social unrest) and policy responses (reskilling, fairness, international cooperation, windfall taxes/UBI).
Questions this video answers
60%
40%
26%
January 22, 2024
Kristalina Georgieva
Chapters
So there was a recent report by the International Monetary Fund, AKA the imf, that was a little bit concerning, but it was something that I do think needs to be brought to your attention. So be sure to watch this video until the end because the details of the report on what jobs are going to be affected by this new report on artificial intelligence is quite fascinating. So you can see right here that we have this article and of course, like I said, it's by the IMF. So it says here that AI is set to impact 60% of jobs in developed economies. And I know that this is something that needs to be brought to your attention because if you're likely watching this, you are likely in a developed country. So it says a new report by the International Monetary Fund found that higher skilled jobs will likely face a impact from artificial intelligence. And this can present both challenges and opportunities. And in this paper they do really highlight some of the uniqueness of artificial intelligence and why certain things that we really didn't think about even in some of the previous videos that I've done on job reports before, are going to be important to think about because this technology is set to disrupt the entire playing field in terms of where humans stand on a social scale. So firstly, I'm just going to go through the brief article, then I'm going to dive into some really specific things from the paper that I really think people should be aware of because the world is about to change in a major way. So one of the first things that they talked about was essentially, of course, 60% of jobs in developed countries, countries developed economies, according to the study ahead of the WEF World Economic Forum in Davos. And essentially this study predicted that around half of those jobs will be negatively affected by AI, while the other half will see a positive impact. So while on one side there is a bit of doom and gloom, on the other side I guess it is potentially positive. Now, if you don't know what the positive influence of AI is, essentially that's just what we call intelligence augmentation. This is something that has been recently discussed as essentially where instead of AI completely replacing some workers, AI will supercharge some workers. And we're going to get later on into the exact chart that shows you which kind of jobs are going to be augmented and amplified and the other ones that are going to be more automated. A rather chilling sentence from this article that's something that isn't really particularly a great read is that your job may disappear altogether. Not good. Or artificial intelligence may enhance your job. So you will Actually be more productive and your income level may go up. This is what the IMF managing director Kristalina Georgieva told the AFP news agency. And the more you have higher skilled jobs, the higher the impact. So it seems to be that a recurring theme is that from these studies we do know that even if you are a highly skilled individual and if you have a highly skilled jobs, the higher the impact is going to be. Which is a stark contrast to what we initially believed when we were looking at the future of artificial intelligence. Then of course we did have this part of the article which was fascinating and it said that there is less impact in the developing world. So it says the impact is expected to be different in the developing world with 40% of jobs in emerging markets set to be impacted and 26% of jobs in low income countries. So rather fascinatingly, like we said before, this AI isn't really going to impact the developing nations as much as it is going to impact the more developed nations. So it's quite fascinating to see how this technology is going to be dissipating through society. It additionally goes on to say that but while these labor markets are set to see a smaller initial impact from AI, they are also less likely to benefit from the increased productivity that AI promises. We must focus on helping low income countries in particular to move faster, to be able to catch the opportunities that artificial intelligence will present. So artificial intelligence, yes, a little scary, but it is also a tremendous opportunity for everyone. And you know, like it says, the impact on the developing world isn't going to be that crazy at the start. But of course AI will impact everyone eventually. But it's important to note that because you know, those in the developing world, I'm guessing there's just less technology overall there. And of course since there are less highly skilled jobs in those countries, I'm guessing that's why is going to impact those countries as much. Now there was something that I wanted you all to see and this of course was a chart from the website article. And then essentially this is where we talk about AI's impact on jobs. Now on the left hand side what we can see is rather fascinating bar which shows us the entire world exposure to AI jobs. So essentially what we have here is in the red we have high exposure and high complementary, which essentially just means that your job or your industry has a high exposure to AI, which means AI is going to impact it in some kind of way. But in the red that shows us that it's high complementary, which means that it's going to help you more than it replaces you in the light pink area. We have high exposure and low complementary, which is pretty bad because that just means you have high exposure to the artificial intelligence automation. But it's low complementary, meaning that the it's not really going to complement you that much and it's more likely to automate your job role. And of course we have low exposure, which just means that the AI isn't going to be impacting you at all. So overall on the world scale, you can see that there's not that much. But as we go over to the advanced economies, we can see that overall, basically 60% of these jobs are going to be impacted. Now I did find it interesting that half of these jobs are going to be high complementary and the other half are going to be low complement. And you can see that we've got the world advanced economies, emerging markets and low income countries. With a vast majority of the low income countries around, I think that is around 70% being pretty much low exposure. And then of course you can see that in the advanced economies, pretty much more than half of everyone is going to be affected in some kind of way. We're going to see an AI supercharge your work or at least automate many parts of it. Now what I also do find fascinating is the fact that I'm not sure that this study does take into account AGI, because with AGI rapidly on the Horiz horizon, are they taking into account just how good an artificial general intelligence is going to be? Because we know that artificial general intelligence will eventually impact pretty much every single job. So I'm wondering how that will be accounted for. Now the next slide is definitely something that I didn't think about in the previous job reports because although it isn't exactly related to jobs, it is also related to society because we did actually see some of these things here. So one of the things that this paper actually does discuss is it actually does discuss social unrest. And I think this is a bit important. Now, without getting into, you know, politics and all that stuff. It says the potential implications of AI demand a proactive approach from policymakers geared towards maintaining social cohesion. While long term productivity gains from AI are likely during the transition, job displacement and changes in income distribution could have substantial political economy implications. And history shows that economic pressures can lead to social unrest and demands for political change, ensuring social cohesion is paramount. So essentially what they're saying here is that this AI technology is going to change everything in ways and pretty much not everything. But like the majority of things. And the main thing that is going to change, that's going to upset a lot of people, is of course, your livelihood. It's going to change some people's jobs. And due to this job displacement, it means that there might be some loss of social cohesion and we need to make sure that people stick together and society essentially doesn't collapse. So what we're doing here is that while AI can make us more productive in the long run, it's really going to cause some jobs to disappear overall, there are going to be some jobs that just completely get automated. And unfortunately, what is going to change is how much money people make, which could lead to eventually some protests. Now, you might be thinking that, is this even possible? Are really people going to be protesting about AI? Trust me, when your livelihood is completely gone and there's no alternative solution and people aren't really fans of the government, we've seen many countries recently have protests and all these kinds of things, and there are always people angry at the government for a variety of different reasons. Now, if people don't have a livelihood and if governments haven't effectively planned how to maintain social cohesion, essentially maintaining that society sticks together and doesn't collapse due to process and massive job loss, then things could really, really start to crumble. Because whilst AI, of course, is going to make us more efficient and more productive, a large majority of society getting their jobs automated isn't going to be good for everyone. So they also state that to keep society stable, governments focus on, number one, making sure that AI is used fairly and ethically. Number two is training people with the new kinds of job that will come with AI. Number three, helping those with jobs affected by AI to learn new skills. And since AI technology doesn't actually stop at borders, countries should work together to handle the big issues that come with it, like keeping data safe and using AI responsibly. And that is actually why many countries in the EU actually signed the Bletchley Decoration. And this is essentially a promise to work together on a these challenges and different countries have different abilities to deal with these issues. So it's important to have global rules that pretty much everyone follows, but to also make sure that these rules work well in each country. Now, this is of course, the Bletchley Decoration, and essentially it's something that issues an international call to action to examine and address the potential impact of AI systems, with a particular focus on the protection of human rights, transparency, fairness, accountability, regulation, appropriate human oversight, ethics, bias, mitigation, privacy and data protection. Now, for those of you who don't think protests are going to start happening, protests have actually already started happening. And this is a direct result of these large language models. Now, of course, I'm going to get into some other protests, but you can see right here that it says in Hollywood writers battle against AI, humans win for now. So essentially, Hollywood screenwriters secured significant guardrails against the use of artificial intelligence in one of the first major labor battles over generative AI in the workplace. During the nearly five month walkout, no issue resonated more than the use of AI in script writing. And what was once seemingly less demand of the writing skills in America became an existential rallying cry. So essentially these guys were like, look, we do not want generative AI being used in script writing. And these guys were protesting because of course generative AI is a really disruptive technology. And I don't think anyone in any industry unless it's completely automated and just, I guess you could say something that people really hate to do. Nobody wants their job to be automated. As you can see that the deal states that writers can use AI if the company consents, but a company cannot require a writer to use AI software. Someone also actually said that if we ban the tools to make organizations more productive, we are consigning ourselves to stagnation. However, I don't think most people agree with this because I think that many people on the flip side are actually going to revolt against AI. Not in the way that we're going to revolt against those evil AI in the Transformers movies, but I think when significant portions of an industry are going to be let go, there are going to be tons of people who just simply refuse and they're probably going to be doing it in solidarity. Because I do believe that people actually do want to work with people, despite what everything everyone says and that AGI, yada, yada yada. I think that in some industries people respect the fact that there are humans creating the content. For example, on YouTube, I'm pretty sure that people hate if a video is AI generated because it just completely feels soulless. And although, yes, there are some things that are less, I guess you could say, creative in the sense that they don't require a human presence, for example, like working efficient code or whatever. I do believe that overall we will see more instances of strikes actually happening. In addition, here there was a protest online. And although this wasn't that big, like I said, in the future, you know, we're definitely going to be seeing more of this. So artists stage mass protests against AI generated artwork on ArtStation. So it says. On Tuesday, members of the online community ArtStation began widely protesting AI generated artwork by placing no AI art images in their portfolios. By Wednesday, the Protest images dominated ArtStation's trending page. And the artists seek to criticize the presence of AI generated artwork on ArtStation to potentially disrupt future AI models trained using artwork found on their site. And I mean, I can completely understand how these guys feel. You know, you spent hours and, you know, weeks creating a specific piece of content and then someone comes along, rips it, and then, you know, they essentially use your work to put you out of business. That must just be absolutely insane to feel an artstation if you don't know, essentially a website where you can post creative stuff and it's really, really cool. And, you know, you could see that this received a overwhelming amount of support. And I'm pretty sure that, you know, everyone has the right to protest about how they feel. And I'm sure these campaigns are going to get a lot more support in the future because anyone opposing this, I mean, it's probably only going to be the CEO of a major corporation. And I'm pretty sure the CEOs of major corporations, especially those earning and pocketing millions of dollars, who have earned it rightly so, don't always have the best public relations image due to the nature of the capitalist society and just how far the wealth gap is wide. If you want my prediction based on what will happen in the future, I think that in the future certain companies, for example, companies like Microsoft, Apple, Google, Netflix, Meta. I think that in the future there is going to be one tax release for companies that do employ humans, because I think that that would just essentially foster a better community, essentially a better society where you have real people working in real jobs. And number two, I do think there is going to be probably a mandatory, maybe at certain companies, 50% of your employees need to be not using AI, or 50% of the employees in the company need to be real human employees. Because I think in the future, if there isn't some kind of maximum cap on the amount of. Not maximum cap, but a minimum cap on the amount of humans that we can have in a company, there's definitely going to be a lot of social unrest once we do have these AGI systems that can pretty much do a lot of things. So what's also interesting that we should pay attention to here is, is that each country will be different. So essentially what they talk about here is that countries that are already advancing or Emerging markets are in a good spot to use AI effectively and they are more exposed to AI and they are better prepared for it. Now, we've got other and emerging low income countries and these places might struggle to benefit from AI. They often don't have the right technology infrastructure, their workers might not have the necessary skills, and they might lack the needed legal and institutional setup. So this could put them behind in the global competition. So overall, essentially what they're saying here is that different needs for different countries and countries at various stages of economic development need to focus on different things. Advanced and more developed emerging markets should work on creating laws and regulations that help them get the most out of AI. And they should also invest in new innovations that work well with AI. And on the other hand, low income and other emerging markets should first focus on building up their digital capabilities and educating their people. And with these investments, AI could help these countries overcome the skill gaps, improve their healthcare and education, and boost productivity and competitiveness in new industries. And watching to see just how each country does adopt AI and how they're using generative AI in their workflows and how they're using it in society will be something fascinating to see. Okay, so this was the most interesting chart that I saw in the paper and I just had to put this in the video because it is something that I was looking at for quite some time. So essentially right here, this is where we have the box figure A conceptual diagram of AI occupational exposure and complementary exposure. So essentially what we have here, right, is we have four quadrants, okay, so where you ideally want to be is on this side because as we go towards the left here on the AI occupational exposure. And for ease, I'm just going to say that AI exposure in terms of AI automation. So AI automation on the left here, this is where your job is not going to be automated. And then towards here is where your job is going to be automated. Now on the complementary side, you know, the higher you get, you know, if your job is all the way at the top, that means that AI is going to help your job. And if you're all the way at the bottom, that means that AI can't really help your job that much. So you can see down here at the bottom, we've got dishwashers. You know, AI can't really help them. And AI doesn't really, it's not really going to impact washing a dish. You know, we've already got dishwashers, but you know, restaurants, I'm pretty sure people are just going to be used for quite some time because, you know, trying to get a robot to wash a dish, you know, robots and electronics and water, they don't really mix. Now dancers, you can see that they're pretty much like that's, that's probably never going to be affected by AI. I'm sure people are going to watch humans dance over watching AI dance. So that's why this is more towards the left then on the right hand side. We can see that economists and telemarketers are pretty not in the best positions because their exposure to AI is pretty high and complementary. It's not complementary. So you don't really want to be in the bottom right. You ideally want to be at the top left where you have a great career and AI just helps you even make more money. So we've got surgeons and airline pilots where AI is just going to be helping you. And then of course we have this weird area here where you're exposure but at the same time you're kind of high complementary. So this one right here, judges and lawyers. So this one right here is definitely where you definitely want to be. So I think this is a fascinating way to kind of look at where you are on the scale in terms of how you're going to be automated or you know, just, just what the future kind of holds for you. And I think essentially what we're looking at here, just to give you guys an easy way to visualize this, is that pretty much anything on a computer is going to be impacted by AI, but stuff where you cry, real human dexterity in terms of using your hands. So for example, that's why surgeons are up here, that's why truck drivers are here and dishwashers are on this side, because we haven't solved robotics yet. So the human dexterity of the human hand is so efficient. It's fast, it's fluid, it can do really crazy things. It can thread a needle and it can catch a basketball, you know, all within like a couple of seconds. So once you don't, you know, we solve humanoid robotics, then this is just going to go to mush. But for now, anything that is not like on a computer is definitely going to be some of the first things that go. And I do believe that a lot of computer based jobs are going to be going first due to the rise of AI agents. But we're still working on getting that software done. But there is a lot of pace being made with the current technology. So one thing that this paper did also talk about was old people and the elderly population in this paper were referred to as a niche that weren't going to fare well. So essentially what they talked about were that older workers were essentially to have a harder time adapting to the changes like those brought about AI and they were going to face more challenges finding new jobs if they lose their current ones. And there are five reasons that they gave. So number one is that outdated skills, so the skills older workers might have might not be needed anymore because of the fast and rapid technology changes. Number two was the personal ties. They often have strong connections to their current location, like family ties, which making moving for a new job pretty tough. And that's a very, very reasonable ask. Now number three is of course, financial reason reasons. If you're older, you have financial commitments and that's going to make you less likely to take a job that pays less. And of course, lastly, we have the comfort with the current job. So essentially they might not want to switch to a completely new field or job after spending many years in their current one. This could be because they're used to their current work, worried about the challenge of learning something new, or think there might be bias against older people in new roles. So essentially older people, and I'm not sure what age they did give because they didn't actually really give an age. And I think, think it would be ignorant to say that, you know, someone who is of older age should just be, you know, should just be more adaptable, they should just move. Because it's really hard to say someone with a house and a mortgage and a family and a community to just, oh no, if AI replaces your job, just go ahead here and move. Because it's not that easy at all. You know, by the time you are an older worker, you know, you're likely going to have a family and you know, you're likely going to be living with them, caring for them, and you're likely going to be part of a community. So this is definitely something that is, I'm guessing when they say older, I'm guessing they're talking about 50 plus or 60 plus. I'm not sure they're talking about 30 to 40. But I guess in the future we will figure that out. Now, there were some individual categories that I did also find fascinating. One of them was women and AI. So they said women are more likely to work jobs that are greatly affected by AI. But this isn't just a risk. It also means that there could be more chances for these jobs to evolve and benefit from AI technology. An exception to this is in places like India, where Women work in agriculture, a sector, are normally not impacted by AI. Now number two, which was crazy, was education. So here's where they talk about the fact that people with higher education are more found in jobs that AI affects a lot. So this is even in so and more so where jobs where AI can really help out a lot. And this suggests that AI might impact skilled jobs more than simpler ones, but these skilled jobs might also gain more from AI. Now remember when I'm saying that this impacts your job, it doesn't mean that it, you know, automates your job. Impacting something could mean it's a positive impact, it could also mean a negative impact. But it's always important to take a look at, you know, some of the words being thrown around because if someone says, oh, this is impacting your job, you know, some people freak out. Just remember that it could impact it in a positive way. So age differences. Now, the impact of AI varies with age, but it's not the same everywhere. It depends on the mix of men and women and how educated they are in different age groups. For example, in the UK and United States, younger people are often more educated because more people have been going to university in the last 30 years. In developing countries, there are generally fewer people with higher education, but more young women are now working than before. So we can see the age, you know, in terms of the high exposure, high complementary, in terms of high exposure, low complementary. And you can see just how crazy things are. I mean, it's pretty hard to see, but you know, if you've got the paper, you can definitely see, but it will be fascinating to see. Now there was another graph here where we have advanced economy advantage, where essentially this just shows that the wealthier companies, wealthier countries are often better equipped for AI adoption, which is of course makes sense, you know, AI preparedness index and employment share in high exposure occupations. And then this is something that I really wanted to talk about because this was something that it wasn't a shock, but it wasn't something that I'd wanted to see because I guess you could just say that this is just an uncomfortable truth. And DeepMind co founder AI said AI is fundamentally, fundamentally a labor replacing tool. And I think that that is one of the truest statements that we needed to hear because that's essentially what AI is, isn't it? I mean, it's not just like we're not just creating AI to talk to it, we're not just creating AI for entertainment. Most of the AIs that are being created now are to replace the labor market. So you know, essentially he made some comments about this that I think we should all take a look at and essentially said, I think in the long term, over many decades, we have to think very hard about how we integrate these tools because left completely to the market, these are fundamentally labor replacing tools. And it says. And there it is. Suleiman makes this sound like some foggy future hypothetical, but it's obvious that he said labor replacement and that's already happening. The tech and media industries, which are uniquely exposed to the threat of AI related job losses, saw huge layoffs last year, right as AI was coming online. In only the first few weeks of January, well established companies like Google, Amazon, YouTube, Salesforce and others announced their more aggressive layoffs that had been explicitly linked to greater AI deployment. Now, now they do talk about. The general consensus in corporate America seems to be that companies should use AI to operate leaner teams, the likes of which can be bolstered by small groups for savvy AI professionals. And essentially they're going to be increasingly sought after class of worker as they'll offer the opportunity to reorganize the corporate structures around automation, making them more efficient. Which means, okay, from this statement, you know, yada yada yada, what we have here is that, you know, like I always say, okay, if something is happening and we can't avoid what is happening, we might as well prepare for it and figure out how to move with it. Okay? It's the old phrase, if you can't beat them, join them. I would say that if you are in an industry where you don't plan on moving industries completely to go to an entirely new field, I would say learn how to use AI, learn how to be more efficient with AI, that just makes you a supercharged person because if you can get the work done of 10 people rather than one and you're working at a company, I can guarantee that they're going to keep you around. Even if they lay off like 10 people, you aren't going to be the person that is laid off. Because if you know all the informations, you know how to add all these integrations and you make like you're that guy, like for example, you're that company. They're like, oh, is there a way that we can make this faster? And they come to you, you're that guy. I'm pretty that the company is going to think of you as a valuable person. But of course, and I remember this from a previous video where they talked about, you know, we talked about how you need to be continually learning. And someone was like, you know, some jobs where you're working nine to five, you know, you're working long hours, it's stressful, it's boring, it's tedious. You don't want to be continually studying. You know, I'm not saying that, but it does make sense to keep up to date with what's going on in your specific industry. That way you don't just get blindsided by something that is coming. Because for example, right now we know that, you know, text to video is starting to make waves. We know that in the future there's going to maybe AI agents. So you can kind of see that, you know, in the future text to video might be a thing. You know, with AI images, you know, with Mid Journey, you can play around with prompts. You know, if you're working in certain industries, you could, you know, use Mid Journey and be that guy within your company to be more effective. And that's going to make you so much more valuable. And I think it's something that you should try to at least be proactive about rather than just having the mindset of, you know, I hate AI, yada yada yada. Because let's be honest, okay, Midjourney isn't going to be your own company in the future. And there are going to be other people who do actually use this software. So you don't need to take like, you know, another five year course on ar, something like that. But it's, it's important to actually familiarize yourself with the tools and understand where the technology is heading. And of course they did talk about one of the obvious benefits of AI, which is, you know, for the, for the company, the benefits are obvious. You don't have to pay someone, you don't have to supply it with healthcare benefits. It won't get pregnant and have to take six months off, nor will they ever become disgruntled with its working condition and try to start a union drive in the break room. And then of course, this is one of the most important things. Okay, I really pay attention to what I'm about to say here, okay? Because I don't know why nobody is talking about this. Like, honestly, everyone seems to be ignoring this elephant in the room. Everyone. And I mean everyone. Okay. And this is where Universal Basic Income comes in. And I haven't heard any discussions about this recently and I don't know why, I don't know if it's just because people are just paying attention to AI, but, but essentially Universal Basic Income and this is the most important thing because I think that within the next 15 to 20 years, I think this is going to be just a standard reality, provided that the protests fail. Hopefully they don't. But if they do, and this AI systems are just superhuman in terms of what they can really do, it says that the billionaires who are marketing this technology have made vague rhetorical gestures. So things like universal baker's income as a cure for the inevitable worker displacements that are going to happen. But only a fool would think those are anything other than empty promises designed to starve off some sort of underclass uprising. The truth is that AI technology was made by and for the managers of the world. The frenzy in Davos this week where the world's wealthiest fawned over it like Greek presence discovering Promethean fire, is only the latest reminder of that. Now, essentially what they're saying here is that, you know, this AI technology, if it's able to automate like 100 workers, the only person that's really going to benefit is the guy who owns the company who owns 100 workers, because all he has to do is employ two people to, you know, get the AI system set up, make sure they're working well and everyone else is out of a job. So essentially, universal basic income, I think it's definitely going to happen, provided like I said before, the previous legislations don't come into act. I think those will come into act. I think there will be some legislations that say, you know what, any company, you have to have like 50 minimum employees at a certain income level. I just, I just think this way it's going to happen because other than that, how are we going to make sure that there are still people, you know, doing some stuff until unless the entire society, the entire societal, I guess you could say, contract changes, which most likely will happen anyway. So we're going to be in like a post singularity world anyway. So most people would be thinking, okay, if there is universal basic income, who pays for it? Because money just doesn't fall out of the sky. We don't want them printing money because we don't inflation, you know, going any higher than it already is. But essentially there was this thing called the windfall clause, and this is what is called, called distributing the benefits AI for the common good. So basically what they said was that it's a proposal or an ex anti commitment by AI firms to donate a significant amount of any eventual extremely large profits to benefit humanity poorly. So it's basically designed to address the low probability Future scenarios of unprecedented disruptive windfall profits that could result from economically transformative breakthroughs in AI capabilities. And the clause aims to distribute the benefits of advanced AI for the common good and is part of a broader conversation on the ethical and societal implications of air development. Basically what they're saying here is that when these companies realize that, look, we've got a company that makes $10 billion and right now our expenses are $9 billion in employees, marketing, yada, yada, yada, we could make $8 billion a year and spend $1 billion in advertising and pocket the rest because all of these AI agents that that cost us 500amonth to run are going to give us $8 billion a year. These are profits that companies have never seen before. There's probably going to be a tax on that and that tax is what is probably going to pay for Universal Basic Income. Now we need to take a look at this clip from Sam Altman where he discusses Universal Basic Income because it is rather important.
You have been a proponent of UBI Universal Basic Income in the context of AI. Can you describe your philosophy there of our human future with ubi? Why you like it? What are some limitations?
I think it is a component of something we should pursue. It is not a full solution. I think people work for lots of reasons besides money and I think we are going to find incredible new jobs and society as a whole and people's individuals are going to get much, much richer. But as a cushion through a dramatic transition and as just like, you know, I think the world should eliminate poverty if able to do so. I think it's a great thing to do. As a small part of the bucket of solutions, I helped start a project called called worldcoin which is a technological solution to this. We also have funded a like a large, I think maybe the largest and most comprehensive Universal Basic income study as part of sponsored by OpenAI. And I think it's like an area we should just be looking into.
What are some insights from that study that you gained?
We're going to finish up at the end of this year and we'll be able to talk about it hopefully very early next.
So let me know what you thought about ubi. Do you think there are going to be more protests? Do you think there's going to be more social upheaval? Do you think that, you know, UBI is pointless? We should just, you know, all chill on the beach somewhere? Do you think that your job is never going to be automated by it? I do know that some industries aren't going to be automated by, for example, you know, entertainment. I think, you know, the fact that, you know, chess beats everyone but we still enjoy watching human chess players is an example of the interesting nature of humans. But I think that on a large scale there is going to be large mass job displacement. So there's going to be many different policies coming into place. And I do think that, that this is going to be a fascinating period to live in. Maybe, you know, not for the best, but I do hope it does work out because, you know, the changes that are coming are definitely going to come eventually. If the technology that we do have is as good as it seems or as it is promised is going to be, there are going to be some significant conversations to have and it's up to the leaders to ensure that the choices that they make don't, you know, disrupt the levels of social cohesion because if they do, then things could start to get ugly really, really quickly. So with that being said, if you have enjoyed this video, it will be.










