Could artificial intelligence further polarize and shrink the global economy?
Hello, I’m a new fresh AI engineer and a computer science graduate. As you know, artificial intelligence has advanced significantly and has begun to replace certain jobs, and this trend will continue. While this situation may seem profitable for companies in the short term because they’ll pay lower wages, I believe their revenue could decrease in the long run due to their potential customers becoming poorer. If people who lose their jobs end up taking lower-paying jobs or remain unemployed (I don’t think AI will create that many new professions), the velocity of money will slow down, and I think this could also slow down the economy. I have no expertise in finance; this idea just came to me as I was thinking about the industry and the world. What are your thoughts?