Elon thinks AI will eliminate every single job

Last year Olivia heard about chat GPT and she kind  of just Shrugged her shoulders now Olivia is a   real person she's a 25 year old copywriter in San . Francisco many of her colleagues started spreading   around articles about how to best use chat gbt , and sued her assignments became less and less and   less and on internal chat groups people started  referring to assignments as Olivia chatgpt within   just six months after chat gbt launched she would  get fired she no longer had a job and she was the   company's only writer see the question is not if  AI will replace jobs it already has the question   is much deeper than that will it replace all jobs , and will there even be a need for humans to work   and if the answer is no should the government . give you money to live I don't think we could   have a choice this might sound crazy but the idea  is being tested in cities and countries around   the world see imagine a big pot of money that the . government uses to fund all sorts of things like   schools roads and hospitals this pot is filled  with money from taxes but now imagine that the   government decides to start a new program where . it gives everyone in the country a certain amount   of money every month no matter how much money  you already make this is called Universal basic   income and it may be coming Elon Musk thinks  it's inevitable the government will eventually   just be paying us to live since technology will  be handling every job some economists predict   that AI will replace hundreds of millions of jobs . in the biggest transformation of work since the   Industrial Revolution but during the Industrial  Revolution millions of jobs were replaced with   new jobs now some studies say the majority of  jobs in the next decade don't even exist now   but you have to wonder is this time different , than the Industrial Revolution because AI will   advance faster than any human brain so will AI , save any work left for us up to 800 million jobs   could be automated just by 2030 according to a . 2020 report by McKinsey Global Institute that   represents about one-third of the global Workforce . the report also also found that AI is likely to   have a disproportionate impact on low and middle  skilled jobs other Studies have also found that AI   is likely to have a significant impact on the job , market a 2019 study by The Brookings institution   found that AI could displace almost half of , the jobs in the United States and the impact   of AI on jobs is already being felt a lot in some . Industries we're seeing Amazon use robots across   its production floors but it's not just that in . the retail sector AI is being used to automate   tasks in customer service and checkout and in the  transportation sector AI is being used to develop   self-driving cars and trucks San Francisco now  has 24 7 self-driving taxis roaming its streets   imagine your primary source of income is being , an Uber driver in the Bay area right now now   while AI will eliminate jobs it's also creating  new jobs too which of course happen during the   Industrial Revolution and when you hear about , the debate many people will often bring up the   Industrial Revolution the fact that it used  to take 50 percent of the population to feed   the other fifty percent of the population this  was the farming industry today the farmers make   up less than one percent of the workforce the , Industrial Revolution is a good example of how   technological change can disrupt the job market , see during that time many people lost their jobs   to machines but many many new jobs were created , and the overall standard of living improved AI is   going to be the same and that many workers will , lose their jobs but many new jobs will also be   created they're already being created but is this , time different see the industrial revolution had   a number of positive and negative impacts on the , positive side it led to productivity and economic   growth which raised the standard of living for  many people it created new jobs that more people   were excited about and got rid of many jobs that . many people were not that passionate about and   jobs that were extremely labor intensive on , the negative side though it also caused a lot   of chaos during the transition and it would also , lead to pollution and environmental decline but   here's why it might not be fair to compare the  Industrial Revolution with what's happening into   AI when you look at the rate of change AI has a ,

compounding effect the compounding effect of AI   on job elimination is like a snowball rolling  down a hill it starts small but it gets bigger   and bigger the more it rolls at first AI was only . used to automate simple tasks like sorting mail   or scheduling assistance but now ai is being  used to automate a lot more complex tasks like   writing code diagnosing diseases I mean this  has the potential to replace software engineers   and doctors and as AI becomes more powerful and , more capable it will only displace more and more   jobs this is because AI can do many tasks faster , better and cheaper than we can humans right now   ai powered chat Bots are already being used to  provide customer service in many Industries and   these chat Bots can answer customer questions 24  7 and they never get tired or frustrated another   example is software that is being used to automate . tasks like accounting legal research and medical   diagnosis and the software can do these tasks  with greater accuracy and efficiency than humans   can you probably use free public Wi-Fi a lot it's . convenient but apparently this can open us up to a   lot of problems like identity theft or data leaks . a hacker can literally position themselves between   your device and the public Wi-Fi to eavesdrop on  your traffic and steal your credit card numbers   and passwords so I recently started using the , Aura app or as privacy assistant removes all   your data from mining sites and they even send . you automatic updates when there is suspicious   activity with its virtual public network you  can connect to any public Wi-Fi without fear   since you're a viewer of my channel you can get . a free 14-day trial and they'll do a scan and you   can see right now if your personal information . has been leaked online or not you'll find out   instantly click below to get your free trial and , stay away from hackers now back to the video the   compounding effect of AI on job elimination is a  serious concern for many people to stay safe and   not lose your job at least in this short term you . will need to do these things invest in retraining   and upskilling programs these programs can help . people learn skills they need to succeed in the   AI powered economy right now there are so many , courses on working with AI and next we need to   encourage entrepreneurship and Innovation this  will help create new jobs in the AI powered   economy but what if all of that doesn't work what , if AI is just still smarter faster better this is   where Universal basic income comes in Ubi it's a , policy proposal that would provide all citizens   with a regular unconditional sum of money Ubi . is seen by some as a way to offset the potential   negative consequences of AI driven Automation and . governments around the world are already testing   this to see how it would impact Society let's look . at this high profile Ubi experiment in Stockton   California it gave randomly selected residents 500  per month for two years now unlike most government   programs here there was no strings attached and , the results found that it measurably improved   participants job prospects Financial stability and  overall well-being this study which was conducted   by researchers from Stanford and the University of . Chicago found that Ubi recipients were more likely   to be employed and had higher earnings than those . in the control group they were also more likely to   have savings and less likely to report financial , hardship hold up how is giving someone freeing   money making them more likely to be employed . well it's only 500 per month this is nowhere   near enough to live off in California but what was , especially interesting was this in addition to the   positive impacts Ubi recipients reported improved , mental and physical health as well as increased   feelings of empowerment and control over their  lives the study's authors concluded that Ubi is   quote a promising policy intervention for reducing , poverty and improving the lives of low-income   individuals and families UBI has been tested . in a number of other places around the world   too like Finland Kenya and Canada the results of  these Studies have been mixed a study in Finland   found that Ubi did not have a significant impact . on employment rates however a study in Kenya found   that Ubi had a positive impact on food security , and Entrepreneurship there are a number of pros   and cons to Ubi see on one hand it could reduce  poverty and inequality it could also give people   the freedom to pursue their own interests and to ,

start their own business if there is any business   left to start because of AI on the other hand . Ubi would be expensive to implement and it is   not even clear whether it would be effective in . offsetting the negative consequences of AI driven   automation but whether or not governments need . to adopt a Ubi program in the future depends on   three factors first it has to look at the pace and . scale of AI driven automation not every country   is the same next looking at the effectiveness of . retraining and upskilling programs and third the   social and political climate see if AI automation  does displace 800 million workers like studies   suggest and retraining and upskilling programs , are not effective then Ubi will be very helpful   for those people who are left behind who have no . more jobs but Ubi I would be insanely expensive to   implement and it's not even clear if this would . be politically feasible despite that Elon Musk   has expressed support for Ubi many times he said . there will be fewer and fewer jobs that a robot   cannot do better and I think ultimately we will  have to have some kind of universal basic income   I don't think we're gonna have a choice and in . a 2021 interview a Time Magazine musk reiterated   his support for Ubi saying I think we're going . to have some kind of universal basic income in   the future it's just going to be necessary there , will be fewer and fewer jobs that a robot cannot   do better musk hasn't provided specific details  about how he would Implement Ubi but he said   that he believes it is important to find a way , to ensure that everyone has a basic level of   income even if they are unable to find a job now , his support is significant because he is one of   the most influential people in the world and his . views on technology and the future are actually   widely followed his support for Ubi could also . help to raise awareness of the issue and make it   more likely that Ubi will be seriously considered , as a policy option in the future but hold up this   all sounds great but how can a government actually , afford to pay for all of this I mean governments   already struggle to pay for programs and services . well imagine that you are a parent and you want   to give your child a weekly allowance you could . afford to do this in a few ways you could reduce   your own spending on things like coffee and , entertainment you can could ask your child to do   more chores around the house in exchange for the . allowance or you could borrow money from a friend   or family member same thing with the government , one way is they could raise taxes this means   that everyone would have to pay a little bit more  in taxes each year to fund Ubi but that doesn't   really make that much sense since you're basically , giving more money to the government so that it   can give you money back another way to fund Ubi , is to cut back on other government programs for   example the government could decide to eliminate . some social welfare programs like food stamps or   unemployment benefits finally the government , could also borrow money to fund Ubi this would   mean that the government would have to pay back . the money with interest in the future so which   of these options is the best way to fund Ubi well . it depends on the country's specific circumstances   see in some countries Rising taxes may be the best  option for example in countries with very high   income inequality raising taxes on the wealthy can  generate enough Revenue to fund Ubi without having   to raise taxes on the middle class or the poor in , other countries cutting back on other government   programs may be the best option for example in a , country with large social welfare budgets cutting   back on some of these programs could free up  enough money to fund Ubi and in some countries   borrowing money might actually be the best option  for example in countries with strong economies   and low interest rates borrowing money to fun Ubi . might be a relatively affordable way to implement   the program there is no one-size-fits-all , solution to funding Ubi AI is going to change   everything we know about everything it's already . creating new jobs and boosting productivity and   economic growth but in the long term it will , replace some jobs and increase inequality but   I want to know what do you think should the  government start giving out money and how   should they pay for it also what else needs to  be done to ensure that AI does not destroy us