{"id":269439,"date":"2023-11-15T19:07:00","date_gmt":"2023-11-15T13:37:00","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=269439"},"modified":"2023-11-15T19:07:00","modified_gmt":"2023-11-15T13:37:00","slug":"on-the-impact-of-ai-on-work-the-economy-of-a-world-without-work","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/on-the-impact-of-ai-on-work-the-economy-of-a-world-without-work\/","title":{"rendered":"On the impact of AI on work \u2013 The economy of a world without work"},"content":{"rendered":"

Source: <\/strong>This post on the impact of AI on work has been created based on the article \u201cThe economy of a world without work\u201d<\/strong> published in The Hindu <\/strong>on 15th<\/sup> November 2023.<\/strong><\/p>\n

UPSC Syllabus Topic: GS Paper 3 Science and Technology \u2013 Developments and their applications and effects in everyday life.<\/strong><\/p>\n

News<\/strong>:\u00a0This article discusses the impact of Artificial Intelligence on work in the context of the contemporary global economic system.<\/p>\n

At the recently concluded Bletchley Park summit on Artificial Intelligence (AI), tech leaders such as Elon Musk conceived of a future where AI would substitute for all human labour \u2014 both physical and cognitive \u2014 and hence individuals would face no pressing need for a job but would only seek work for personal fulfilment.<\/p>\n

Read in detail about the Bletchley Declaration<\/strong> here<\/a>.<\/p>\n

What will be the concerns that may rise in a world without work?<\/strong><\/h2>\n

Under our current system of capitalism, the only way an individual can access material resources such as food and shelter is through income derived from work.
\nIf such a system goes away due to AI, there will be the following challenges:<\/p>\n

    \n
  1. No criteria to determine the monetary amount individuals will receive.<\/li>\n
  2. No criteria to determine the division of the output between those who own the machines and those who don\u2019t.<\/li>\n
  3. No criteria to determine the division between future growth versus current consumption.<\/li>\n<\/ol>\n

    The world economy will face disruptions, and it is imperative for us to fully understand the nature of these challenges.<\/p>\n

    Read more about AI regulation<\/strong> here<\/a> and here<\/a>.<\/p>\n

    Question for practice:<\/strong><\/p>\n

    Artificial Intelligence not only brings with it vast opportunities, but challenges too. Discuss in the context of its impact on work and contemporary economic system.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Source: This post on the impact of AI on work has been created based on the article \u201cThe economy of a world without work\u201d published in The Hindu on 15th November 2023. UPSC Syllabus Topic: GS Paper 3 Science and Technology \u2013 Developments and their applications and effects in everyday life. News:\u00a0This article discusses the… Continue reading On the impact of AI on work \u2013 The economy of a world without work<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230],"tags":[216,242,10498],"class_list":["post-269439","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","tag-gs-paper-3","tag-science-and-technology","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":{"total":19,"cached_at":"","cached_date":1700117210},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/269439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=269439"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/269439\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=269439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=269439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=269439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}