AI Will Do Most Jobs ‘Better, Faster, Cheaper’: Silicon Valley Billionaire Vinod Khosla Calls For Universal Basic Income

AI Will Do Most Jobs ‘Better, Faster, Cheaper’: Silicon Valley Billionaire Vinod Khosla Calls For Universal Basic Income

AI Will Do Most Jobs 'Better, Faster, Cheaper': Silicon Valley Billionaire Vinod Khosla Calls For Universal Basic Income

AI Will Do Most Jobs ‘Better, Faster, Cheaper’: Silicon Valley Billionaire Vinod Khosla Calls For Universal Basic Income

Silicon Valley billionaire and venture capitalist Vinod Khosla has issued a bold prediction: artificial intelligence (AI) will replace most human jobs over the next 25 years.

In a recent blog post, Khosla wrote about the implications of AI and warned that “80% of 80% of all jobs, maybe more, can be done by AI, be it primary care doctors, psychiatrists, sales people, oncologists, farmworkers or assembly line workers, structural engineers, chip designers, you name it.”

Don’t Miss:

Khosla’s experience gives weight to his predictions. He cofounded Sun Microsystems and has invested heavily in tech giants like Amazon, Google and OpenAI. He has also spent over four decades studying disruptive technology and believes that AI will do most jobs “better, faster and cheaper” than humans, drastically changing the labor market.

A World Without Jobs

According to his blog, Khosla says that AI will create a world where human labor isn’t necessary for most tasks. It can assist with and perform tasks like assembly line work, investment banking and even medical diagnosis.

Trending: The global games market is projected to generate $272B by the end of the year — for $0.55/share, this VC-backed startup with a 7M+ userbase gives investors easy access to this asset market.

The warnings Khosla discusses surrounding AI aren’t meant to spread fear but to advocate for proactive solutions as our world heads in this direction. He talks about the risk of an “economic dystopia,” where wealth becomes increasingly concentrated at the top – more so than it is now – and both intellectual and physical labor lose their value.

Khosla states that if governments don’t proactively identify this problem and devise solutions for AI taking over jobs, millions could face unemployment.

Trending: IRS Finalizes 10-Year Rule For Retirement Withdrawals, Making Things ‘Even More Insanely Complicated’

The Case for Universal Basic Income (UBI)

According to Khosla, universal basic income (UBI) is one solution to the looming AI job crisis. UBI is a government program that regularly provides every adult citizen with a set amount of money to help alleviate poverty.

Khosla believes that UBI will become essential as AI replaces jobs. It can provide a safety net for those whose jobs become automated. “As AI reduces the need for human labor, UBI could become crucial, with governments playing a key role in regulating AI’s impact and ensuring equitable wealth distribution,” he wrote.

The concept of UBI isn’t new, but it has gained renewed attention as automation accelerates. Khosla joins a growing list of Silicon Valley figures, including Sam Altman and Mark Zuckerberg, who advocate for UBI to cushion the economic disruption caused by AI.

Trending: ‘Scrolling to UBI’: Deloitte’s #1 fastest-growing software company allows users to earn money on their phones – invest today with $1,000 for just $0.25/share

A Shorter Workweek and More Meaningful Life

While Khosla spoke about AI’s challenges, he also presented several upsides, one of which is a shorter workweek. He envisions a world where AI handles mundane, labor-intensive jobs, freeing people up to take on more fulfilling activities. He believes that with the right policies, AI could bring about a three-day workweek, where people can focus more on hobbies, spend time with loved ones and enjoy life more.

“Life won’t become less meaningful once we eradicate undesirable, toil-intensive jobs,” he wrote. “Quite the opposite – life will become more meaningful as the need to work 40 hours per week could disappear within a few decades for those countries that adapt to these technologies.”

Trending: Beating the market through ethical real estate investing’ — this platform aims to give tenants equity in the homes they live in while scoring 17.17% average annual returns for investors – here’s how to join with just $100

The Debate Continues

Many other prominent tech figures have made predictions about AI that align closely with Khosla’s vision. Bill Gates has also suggested that AI will lead to a three-day workweek. Elon Musk has gone further, predicting that work could become more of a “hobby” as AI handles the heavy lifting.

Despite these predictions, history has shown that technological advancements don’t always mean less work. Economist John Maynard Keynes famously predicted in 1930 that people would be working only 15 hours per week in a century, thanks to improvements in productivity. As 2030 approaches, many people still engage in 40-hour workweeks, often more.

AI will continue to advance, and the future of work will change. An AI-driven economy may be inevitable, but how we handle this societal shift will determine whether these changes lead to widespread prosperity or deeper inequality.

Read Next:

UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.

Get the latest stock analysis from Benzinga?

This article AI Will Do Most Jobs ‘Better, Faster, Cheaper’: Silicon Valley Billionaire Vinod Khosla Calls For Universal Basic Income originally appeared on Benzinga.com

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

EMEA Tribune is not involved in this news article, it is taken from our partners and or from the News Agencies. Copyright and Credit go to the News Agencies, email news@emeatribune.com Follow our WhatsApp verified Channel210520-twitter-verified-cs-70cdee.jpg (1500×750)

Support Independent Journalism with a donation (Paypal, BTC, USDT, ETH)
WhatsApp channel DJ Kamal Mustafa