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If most of the jobs get replaced by AI, how people will have income to spend on products which will likely be produced by AI itself? (lemmy.today)
submitted 5 months ago by to c/asklemmy@lemmy.world
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Imagine this scenario:

  • All companies start producing mostly using only AI and firing people, because people have no use anymore
  • Joe spend most of his income on digital video games products
  • Joe get fired because he got replaced by AI now, since AIs are taking over most jobs
  • Joe has no income anymore
  • Joe doesn't have any more money to spend on video games
  • Companies have no more profit, because people don't have income, so people can't spend on their AI produced products

In this scenario both lose, the company adopting AI and the worker. Am I missing something? Is there any possibility besides Universal Basic Income to keep the system running and not collapsing?

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[–] 3 points 5 months ago (2 children)

The whole system is predicated on people consuming. AI can't take over everything to the point where people can't buy stuff. Why would the government bailout a company that has no customers.

Bailouts help the company to become profitable so they can be repaid. Again, no customers no profit no bail out.

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