No. of Recommendations: 4
It's an optimistic view. While the timeframe is opaque, it is clear that white-collar payroll as well as service personnel (like telephone-based customer support) are targets for using AI for cost saving (the list is rather long of impacted jobs). That means lower tax revenue to government.
If, hypothetically, 25% of national payrolls are cut, the macroeconomic fallout will be highly deflationary. While outfits, like Deere, might eke out a living on service contracts, there might not be enough spare change rattling around for McDonalds to thrive.
AI is a bigger deal in the effect on jobs than the industrial revolution, the Great Depression, etc. because there are no new job opportunities created.
The AI companies have the resources of nations and will do whatever is necessary to keep from paying compensatory taxes.
We are creating "Human V 1.5".
Jeff
