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Is AI the future?

 
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kenneal - lagger
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PostPosted: Tue Feb 20, 2018 3:03 pm    Post subject: Is AI the future? Reply with quote

This article says that AI is the future but it makes many mistakes along the way.

It assumes, like most economists do, that the future will be a linear progression from today. Lord Stern says that the future will be interupted by ubrupt and catastrophic changes caused by climate change. The changes could bring the whole of our very fragile economy down in one massive cascade.

While he correctly says that "AI will break capitalism and this should be obvious to anyone. Capitalism only works where there exists a reasonable level of equality. That’s because Capitalism requires both capital and labor. When you don’t have labor (as it is replaced by AI), then there will be nobody to consume the goods that are produced." He follows that with "Capitalism also requires scarcity, otherwise the cost of goods goes to zero." which is untrue as production only goes ahead when costs are less than the price. As price of a good drops the highest cost producers generally drop out and price stabilises somewhere just above the cost of production.

He also makes the mistake of thinking that money and cryptocurrencies have an intrinsic value when they are no more than an electronic byte on a computer which is liable to complete loss in the case of a power failure.

He seems to have no concept of the fact that there are only three things of intrinsic value to us and they are shelter, food and water, not necessarily in that order.
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Little John



Joined: 08 Mar 2008
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PostPosted: Tue Feb 20, 2018 5:17 pm    Post subject: Reply with quote

Regarding AI. It is going to get a whole lot more ubiquitous, and so make our lives a lot worse, before it get's better (as a result of the end stages of industrial civilisational collapse).

Timescale?

Buggered if I know. But, I think we have some decades of this to run.

Unless, of, course someone decides to let off some fireworks. In which case all bets are off
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clv101
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PostPosted: Tue Feb 20, 2018 8:30 pm    Post subject: Reply with quote

The only way AI is compatible with any kind of equality is with the introduction of some form of universal income. In fact, outside a collapse scenario, some from of universal income is more or less inevitable.

It's not really in anyone's benefit for a vanishingly small number of people/corporations to accrue all the wealth, leaving the rest of us broke and the economy without any customers/demand. If we don't address technological unemployment with some form of UBI we all lose.

I read Max Tegmark's Life 3.0 Being Human in the Age of Artificial Intelligence last year. Made a compelling case for the inevitability of UBI.
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kenneal - lagger
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PostPosted: Wed Feb 21, 2018 12:33 pm    Post subject: Reply with quote

clv101 wrote:
.....It's not really in anyone's benefit for a vanishingly small number of people/corporations to accrue all the wealth, ....


The understatement of the year, Chris. It's the death of the economic system which I suppose would benefit the world's wildlife and any human hunter gatherers left.
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