And... if we have machines doing the labor... where are consumers going to get the money to buy stuff from?? Way too simplistic... it will all collapse... and I'm working in industrial automation since 2020... only a few people will get very good salaries and the rest?
It’s Time to Bet Big on AI
When it comes to inflation, rate hikes don’t address the supply side of the equation.With automation, a company can make a lot more product at a fractionally higher marginal cost. Supply goes up without producing more economic demand.Automation technologies have progressed rapidly over the past few years, and they’re now at a point where they’re capable of creating meaningful real-world value.The tech has already arrived in retail, restaurants, media, and entertainment. And its uptake will explode from here.Let’s talk about the “need” part first.In short, the world needs to fix inflation. And ubiquitous adoption of automation technologies is the only way to suppress inflation permanently.But rate hikes don’t address the supply side of the inflation problem. The only way to fix that is if companies figure out a way to make more products and services. But to make more products and services in a human-driven world, you need more labor. That means companies need to hire more workers, which