[Arguable] Will generative AI cause widespread job loss?

Network Capital

Welcome to the third episode of "Arguable," where we, Utkarsh and Dhruva, dive into the changing nature and value of work as we know it.

We kick things off by dusting off John Maynard Keynes' crystal ball from 1930. Remember when he boldly predicted we'd all be living the 15-hour workweek dream by now? Spoiler alert: we're not. But why? We'll unpack this economic plot twist and why we're still chained to our desks instead of sipping piña coladas on the beach.

Fast forward to today, and we're staring down the barrel of a Goldman Sachs report that's got everyone's circuits frying. Three hundred million jobs potentially replaced by AI? That's not just a new industrial revolution; it's a whole new economic dimension!

The four most dangerous words used by pundits are, ‘This time it's different.’ We follow their cue and explore whether this time it really is different. We're not just talking about machines taking over assembly lines. We're talking about AI potentially writing your next novel, diagnosing your illnesses, or even arguing your court cases. Is this the dawn of a utopian future or the prelude to a jobless dystopia?

We navigate the choppy waters between techno-optimism and techno-skepticism, exploring why we should be both thrilled and terrified about our silicon-powered future. Will AI be our loyal sidekick, freeing us up for more creative pursuits? Or will it be the ultimate job thief, leaving us all twiddling our thumbs?

Voltaire once said, "Work saves us from three great evils: boredom, vice, and need." Would we still work if AI-induced productivity made work unnecessary? There are reasons to believe we would. That’s why we go into the Universal Basic Income debate.

Tune in and tell us what you think.

Mentioned:

1. Economic Possibilities for our Grandchildren: John Maynard Keynes

2. The US labor market is automating and becoming more flexible: Goldman Sachs

3. Can This Country Show Europe How to Compete Again?: The New York Times

4. Passion Economy and the Side Hustle Revolution: Utkarsh Amitabh