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Should I start worrying about my job?
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this post was submitted on 21 May 2024
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That’s not what is going to happen. Copilot will simply increase productivity over, and where before they needed 10 people, gradually, through attrition they will need only 9, then 8, and so on. That does not mean higher unemployment though, it means more product.
"AI means there will be fewer people required to do the same amount of work"
"this does not mean higher unemployment"
I think you left out a steep off reasoning there. At least, I don't follow.
When productivity increases (as it has been doing for ages) the manufacturing output increases. That’s what normally happens.
But the amount of workers will only stay the same if demand grows at the same rate as the production output.
Well, the price goes down, or/end the salaries go up, or resources are freed for new investments…
Only in the last case there is a chance that the amount of jobs will remain the same, the other cases will lead to lost jobs.
Prices going down leads to increased demand and expansion. Salaries (everywhere) going up lead to increased demand and expansion.
Businesses want to grow, not keep stable. They might fire a few ppl in the short term, but in the long term it’s more likely the group of 10 would just do now the work of a 12-13 group with AI, producing hugher outputs for the same money they were getting before, meaning extra profit for the shareholders.
That’s exactly what I meant by