The Next Technology Revolution Will Drive Abundance And Income Disparity

7/Feb 2015 1 min. read
http://www.forbes.com/sites/valleyvoices/2014/11/06/the-next-technology-revolution-will-drive-abundance-and-income-disparity/print/
Type:
text
Original date:
Nov 2014
Authors:
Vinod Khosla
Projects:
Creo Animam

Machine learning impact on the economy will be increased productivity and abundance, but far less human labour and judgement. We may need a system focused on more than just efficient production that places greater prioritization on the less desirable side effects of capitalism.

Notes

  • Historically, technology augmented and amplified human capability, which increased the productivity of human labor.
    • if ML become superior in intelligence and job skill then humans less needed
  • if ML can outperform humans even with retraining?
    • RK: unlikely to find single intelligence outperforming multiple intelligence, at least until human simulation
    • the top 10-20% of humans in the profession remain employed
  • hopefully deflationarty pressures increase the purchasing power
  • income redistribution may be required but should be a last resort