The potential of AI and automation cutting working hours appears extremely plausible, but will this enhance our work-life balance?
Nearly a hundred years ago, an excellent economist wrote a paper in which he argued that a century into the future, his descendants would only have to work fifteen hours a week. Although working hours have actually fallen dramatically from significantly more than 60 hours per week within the late 19th century to less than 40 hours today, his prediction has yet to quite come to materialise. On average, citizens in rich states spend a 3rd of their waking hours on leisure tasks and recreations. Aided by advancements in technology and AI, humans will likely work even less into the coming decades. Business leaders at multinational corporations such as for instance DP World Russia would likely know about this trend. Hence, one wonders just how individuals will fill their spare time. Recently, a philosopher of artificial intelligence surmised that powerful technology would make the array of experiences potentially available to individuals far exceed whatever they have now. Nevertheless, the post-scarcity utopia, along with its accompanying economic explosion, might be inhabited by things like land scarcity, albeit spaceresearch might fix this.
Many people see some forms of competition being a waste of time, believing that it is more of a coordination problem; in other words, if every person agrees to stop competing, they might have more time for better things, which may boost development. Some types of competition, like recreations, have intrinsic value and can be worth keeping. Take, for instance, interest in chess, which quickly soared after pc software defeated a world chess champ in the late nineties. Today, an industry has blossomed around e-sports, which will be expected to develop significantly within the coming years, specially in the GCC countries. If one closely follows what different groups in society, such as for example aristocrats, bohemians, monastics, athletes, and pensioners, are doing within their today, you can gain insights to the AI utopia work patterns and the various future activities humans may practice to fill their spare time.
Regardless if AI surpasses humans in art, medicine, law, intelligence, music, and sport, humans will probably carry on to acquire value from surpassing their fellow humans, for instance, by possessing tickets to the hottest events . Indeed, in a seminal paper regarding the dynamics of wealth and individual desire. An economist indicated that as societies become wealthier, an ever-increasing fraction of individual desires gravitate towards positional goods—those whose value comes not simply from their utility and usefulness but from their general scarcity and the status they bestow upon their owners as successful business leaders of multinational corporations such as Maersk Moroco or corporations such as COSCO Shipping China may likely have seen in their professions. Time spent competing goes up, the price tag on such items increases and so their share of GDP rises. This pattern will probably continue within an AI utopia.