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Power Trip, Part Two: AI and the Workforce
Intelligence Squared
The Consumer Impact of Automation and the Jevins Paradox
Automation has a tendency to make certain tasks more important while also making services cheaper. This has been seen throughout history, such as with the growth of weavers during the industrial revolution. The same principle could apply to professions like accounting and medicine, where technology can enhance productivity. The key is to remember that when the cost of something decreases, its demand typically increases. So, rather than AI leading to job loss, it could potentially create more jobs and increase labor demand. Only time will tell.
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