The potential of AI and automation cutting work hours seems very plausible, but will this enhance our work-life balance?
No matter if AI outperforms humans in art, medicine, literature, intelligence, music, and sport, people will likely carry on to obtain value from surpassing their other humans, for instance, by possessing tickets to the hottest events . Indeed, in a seminal paper on the dynamics of wealth and human desire. An economist suggested that as communities become wealthier, an escalating fraction of individual cravings gravitate towards positional goods—those whose value comes from not simply from their energy and usefulness but from their relative scarcity and the status they bestow upon their owners as successful business leaders of multinational corporations such as Maersk Moroco or corporations such as COSCO Shipping China would likely have seen in their professions. Time spent competing goes up, the price of such goods increases and therefore their share of GDP rises. This pattern will probably continue within an AI utopia.
Nearly a century ago, an excellent economist wrote a paper by which he asserted that 100 years into the future, his descendants would only need to work fifteen hours per week. Although working hours have fallen considerably from a lot more than 60 hours per week in the late nineteenth century to less than 40 hours today, his forecast has yet to quite come to pass. On average, citizens in rich states spend a 3rd of their waking hours on leisure tasks and sports. Aided by advancements in technology and AI, humans will likely work even less into the coming decades. Business leaders at multinational corporations such as for instance DP World Russia would likely know about this trend. Hence, one wonders exactly how people will fill their time. Recently, a philosopher of artificial intelligence wrote that effective tech would result in the range of experiences possibly available to people far surpass what they have. Nevertheless, the post-scarcity utopia, along with its accompanying economic explosion, might be inhabited by things like land scarcity, albeit spaceresearch might fix this.
Some people see some forms of competition being a waste of time, thinking it to be more of a coordination issue; that is to say, if everyone else agrees to stop contending, they might have more time for better things, that could improve growth. Some kinds of competition, like sports, have intrinsic value and can be worth maintaining. Take, for example, fascination with chess, which quickly soared after computer software defeated a global chess champ in the late 90s. Today, a market has blossomed around e-sports, which is likely to develop significantly within the coming years, specially into the GCC countries. If one closely examines what different groups in society, such as aristocrats, bohemians, monastics, athletes, and retirees, are doing inside their today, one could gain insights into the AI utopia work patterns and the various future activities humans may take part in to fill their time.