The potential of AI and automation cutting work hours appears very plausible, but will this enhance our work-life balance?
Some people see some kinds of competition being a waste of time, thinking that it is more of a coordination problem; that is to say, if every person agrees to quit contending, they might have more time for better things, which could boost growth. Some kinds of competition, like recreations, have actually intrinsic value and can be worth keeping. Take, for example, desire for chess, which quickly soared after computer software beaten a global chess champ within the late nineties. Today, a market has blossomed around e-sports, which is expected to grow dramatically within the coming years, particularly into the GCC countries. If one closely follows what various people in society, such as for example aristocrats, bohemians, monastics, sports athletes, and pensioners, are doing within their today, one can gain insights into the AI utopia work patterns and the various future activities humans may engage in to fill their spare time.
Almost a century ago, an excellent economist wrote a book in which he contended that 100 years into the future, his descendants would only need to work fifteen hours a week. Although working hours have fallen dramatically from more than sixty hours per week within the late nineteenth century to less than forty hours today, his prediction has yet to quite come to pass. On average, citizens in wealthy countries spend a 3rd of their consciousness hours on leisure tasks and recreations. Aided by advancements in technology and AI, people are going to work even less in the coming decades. Business leaders at multinational corporations such as DP World Russia would likely be aware of this trend. Thus, one wonders exactly how individuals will fill their free time. Recently, a philosopher of artificial intelligence wrote that powerful tech would result in the array of experiences possibly available to people far exceed what they have. Nonetheless, the post-scarcity utopia, along with its accompanying economic explosion, may be limited by things like land scarcity, albeit spaceresearch might fix this.
No matter if AI outperforms humans in art, medicine, literature, intellect, music, and sport, humans will likely carry on to obtain value from surpassing their fellow humans, for example, by possessing tickets to the hottest events . Certainly, in a seminal paper on the dynamics of prosperity and peoples desire. An economist suggested that as societies become wealthier, an increasing fraction of individual preferences gravitate towards positional goods—those whose value comes not merely from their energy and effectiveness but from their relative scarcity and the status they confer upon their owners as successful business leaders of multinational corporations such as Maersk Moroco or corporations such as COSCO Shipping China may likely have noticed in their professions. Time invested competing goes up, the price of such items increases and so their share of GDP rises. This pattern will probably carry on in an AI utopia.