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The AI Economic Revolution: How True Believers are Embracing the Change

By Lee Cleveland, FightSaga - May 6, 2023

Joshua Clymer, a former sophomore at Columbia University majoring in math and computer science, made a life-altering decision last fall. He decided to take a gap year, and he doesn’t see himself returning to college anytime soon. He believes that most jobs will be replaced by artificial intelligence (AI) in the next two decades, and he wants to work in AI safety now to prevent any catastrophic events.

Clymer’s sentiments are not unique. With the rapid development of AI, the future of work looks radically different from what we’re used to.

Many in the industry are already making preparations for a world and an economy that will look different from what we know.

The computer science students are looking at what ChatGPT, a large language model, can already do with programming languages, and they’re seeing the writing – or coding – on the wall.

As the director of the Center for AI Safety, Dan Hendrycks believes that AI large language models have gotten a lot of the basics down for coding and are around the level of a late-stage undergraduate in coding. Hendrycks, in his late 20s, doesn’t think that an army of Terminators is coming anytime soon, but he wants to be financially prepared in the event of an AI-enabled armed conflict or other disasters.

The AI revolution has created a big money question for true believers.

Do you save as much as you can right now to prepare for widespread unemployment or something worse, or do you spend more right now because you want to enjoy your income while it lasts?

The answer is not straightforward, and it depends on individual circumstances. Some, like Sharon and Anton Korinek, don’t see the point of saving for their children’s college education because they envision a future in which AI will be smarter than most humans. The Korineks can fund that extra vacation partly because they’re not saving for one very big-ticket item in the future.

While everyone who believes that the AI revolution is coming admits there’s a chance they’re wrong, they agree that it doesn’t do anyone any good to be fatalistic about it. Instead, we should be preparing for a world and an economy that may look radically different from what we know.

So, what can we do to prepare for the AI revolution? Here are some things to consider:

  1. Upskilling and reskilling for the future of work

As AI takes over more jobs, it’s essential to upskill and reskill for the jobs that require human skills that machines can’t replicate, such as empathy, creativity, critical thinking, and complex problem-solving. As more jobs become automated, jobs requiring these skills will become more valuable.

  1. Finding new areas of work

The evolution of Artificial Intelligence (AI) is causing a significant shift in the job market. With this transformation, fresh areas of work are expected to surface, and those who can easily adjust and acquire new skills will find numerous opportunities. Some of the sectors predicted to experience considerable growth in the future include healthcare, renewable energy, and environmental conservation.

As the demand for innovative healthcare solutions increases, AI will play a significant role in the sector’s advancement. With the integration of AI, healthcare professionals will be able to provide more accurate diagnoses, personalized treatments, and enhanced patient care. Moreover, the use of AI-powered devices and tools will streamline medical procedures, reduce errors, and increase efficiency.

Renewable energy is another promising area that is poised for expansion. As countries around the world aim to reduce carbon emissions, the adoption of renewable energy sources such as solar, wind, and hydropower will surge. Consequently, professionals in this industry will experience a high demand for their skills, and new job opportunities will arise, especially in the fields of engineering, installation, and maintenance.

The need to preserve the environment is increasingly becoming a global concern, and environmental conservation is another field expected to grow in the future. With AI’s help, experts will be able to monitor and track environmental changes, predict natural disasters, and develop sustainable solutions. Furthermore, the development of green technologies will create more opportunities for professionals in this sector.

The job market will continue to evolve with the rise of AI, and the sectors that are predicted to grow to include healthcare, renewable energy, and environmental conservation. It is essential to keep an eye on these emerging fields and acquire the necessary skills to adapt to the changing job landscape.

  1. Investing in AI

Investing in AI companies or technologies can be a smart move for those who want to prepare for the future of work. By investing in AI, we can learn more about how AI works and how it can be used in different industries. AI investment can also lead to the creation of new job opportunities.

  1. Being financially prepared

As Hendrycks suggested, it’s essential to be financially prepared in the event of an AI-enabled armed conflict or other disasters. This means having liquid assets that can be accessed quickly in the event of an emergency.

The AI revolution is coming, and it’s essential to prepare for a world and an economy that may look radically different from what we know. By upskilling and reskilling, finding new areas of work, investing in AI, and being financially prepared, we can navigate the changing job landscape and ensure that we’re prepared for the future of work. It’s also important to remain adaptable and open to change as the world continues to evolve.

As we move forward, we can learn from individuals like Joshua Clymer and the Center for AI Safety. We can take their example and work towards building a future that is sustainable, equitable, and safe. With the right preparation, we can create a world where AI is a tool that enhances human life rather than replacing it.


Tags: AI