Bill Gates has said that artificial intelligence will make the 3-day work week a reality for millions of people.
“In the short term, the productivity boost you get from AI is very excitingGates said on Trevor Noah’s What Now? podcast.
“If you end up with a society where you only have to work three days a week, that’s probably a pretty good thing. If you free up human labor, you can have more time to help the elderly or to develop the children, and on your free days you will be able to fully developGates concludes.
Bill Gates is not the first tech leader and billionaire to predict that artificial intelligence will make the 5-day work week obsolete.
The CEO of JPMorgan Jamie Dimon recently stated that the next generation of workers will only have a 3.5 day work week and “will live to be 100 years old” because of this.
Elon Musk goes further in its predictions and says that AI will eradicate the need for work altogether and create a “high universal income” for everyone.
“You can have a job if you want to have it for personal enjoyment. But artificial intelligence will be able to do everything” Musk told British Prime Minister Rishi Sunak at the AI Safety Summit.
At the same time, the investment bank Goldman Sachs estimated that AI could replace 300 million jobs full-time worldwide in the coming years.
The CEO of IBM Arvind Krishna predicted that “white collar jobs” will be automated first, but adds that this does not meanthat people will be out of work.
“People make mistakes. In 1995, no one thought there would be five million web designers, but today there areKrishna said.
The creator of America’s Got Talent Simon Cowell recently revealed that he stopped working on Fridays because it was “pointless” and major employers such as Samsung started giving their employees one Friday off every month.
Iceland is also experimenting with the introduction of a 4-day working week and it is an option for many workers in the country.
Likewise, in 2021 the annual economic policy guidance of the Japanese government include a recommendation that companies let employees choose a four-day work week.
They also exist negative examples. Suumit Shah, CEO of Indian online store Duukan fired 90% of his employees, replacing them with artificial intelligence. In his words, it was “crazy” not to lay off his workers and multiply his personal profits.
Employers who look to AI as a method to increase their own profits, however, are thinking short-term. Mass layoffs are not the way to achieve a stable economy. People without wages don’t have much purchasing power after all. Thus, the economic boomerang returns and hits the interests of the companies that replaced humans with AI. For that reason we are unlikely to see layoffs of hundreds of millions of workersbecause of the revolution in artificial intelligence, say economists.
2023-11-27 07:15:05
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