If everyone loses their jobs there will be no demand for the products and services those workers used to create.
replyA perfect ouroboros.
Wealth comes from productivity. Those who control it, will still be wealthy.
replysure there will be, people who own the means of production will buy everything, and rule over the peasants
replylike in the good old days
What about the part where workers take less money?
replysay more?
replyExcept that it would be priced based on pass-through prices rather than existing value perception. It used to cost hundreds to send a letter on horseback, it costs pennies to send an email, consumers aren't going to tolerate spending hundreds when they know it take pennies to send.
replyModels are getting cheaper, and more efficient, but I don't see how they cross the threshold of full autonomous intelligence in the way that an employee needs to be fully accountable for their actions.
eventually it will be pennies, but based on current trends i'd bet value outpaces price decreases for a while once it actually becomes an employee replacement
replythe demand then will rise and prices will rise in tandem
it is of course possible that 'deep learning hits a wall' and they don't get there, but i wouldn't bet on it