“The world will be richer with AI,” Bill Gates notes – and I add that many productive players in AI will make tons of money in this new era. Yet, it is important to note that a rich world does not mean poverty will disappear.
Yes, if you look at 2,000 years of gross world product, you will notice that the world has been getting richer, on average, but some countries have been getting poorer. This does imply that AI will surely create wealth for producers since a lesser number of people can be used to create products and services (i.e. higher productivity), but that does not mean the PEOPLE will rise.
If you look at the GDP of China in the last five decades, it is largely parabolic. If you check the US from 1890, it shows a massive exponential curve. But check some countries, averaged by population, you will notice one thing: technology has not significantly improved standard of living in most countries, even though on average, it has been a positive thing. Case in point: average GDP of Nigeria by population, you will be surprised that you cannot find how fintech, tech startups, etc have improved the lives of the citizens, since per capita income has dropped in the nation! (That is a complex topic, I get it).
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Good People, here is my message: make AI work in your personal economy because that it works for the “world” does not mean it will work for you. Yes, become AI-compliant in whatever you do!
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