Peter Schiff Says Humanity Would Benefit If AI Eliminates the Need to Work
JH Kim
Summary
- Peter Schiff said advances in AI would be beneficial for humanity if they eliminate the need for people to work.
- Schiff said people want jobs to earn income to buy goods and services, adding that it would be a "victory for humanity" if AI removes the need for labor.
- He said jobs are not the ultimate goal but a means to enjoy desired goods and services, though he did not explain how income or purchasing power would be maintained.
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Peter Schiff said advances in artificial intelligence would be beneficial for humanity if they eliminate the need for people to work.
Cointelegraph reported on September 15 that Schiff said people want jobs in order to earn income to buy goods and services. If AI removes the need for labor, he said, that would amount to a "victory for humanity."
He assessed AI's potential to replace human labor from the perspective that jobs are not an end in themselves, but a means of accessing the goods and services people want.
He did not, however, present any specific plan for maintaining income or purchasing power as AI replaces labor.
JH Kim
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