How Might AI and Robots Change Jobs and Prices?

SUMMARY

In 30 seconds

In this short video, Matthew Berman considers a hypothetical economy with abundant energy and inexpensive automated production. He imagines robots operating farms around the clock and asks how lower prices and changing jobs might affect people.

1Jobs and automationBerman asks how AI and robotics may affect employment and the economy.
2A hypothetical robot farmHe imagines robots running an efficient farm around the clock.
3Possible lower pricesHe extends the thought experiment to other industries and imagines much cheaper goods.

Takeaways

Berman imagines robots operating farms continuously and extends the idea to other industries.
His scenario assumes abundant energy and very cheap production; these conditions are hypothetical.
Automation could affect both the prices of goods and the jobs people do, though the short does not establish specific outcomes.

TopicsRobotics Future of Work

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An automated economy

Berman considers a robot-run farm and a future of cheap production. He asks what those changes might mean for jobs and consumers.

How might AI and robots change goods, services and the job market? I point to job losses and ask readers to imagine a future with abundant energy and extremely cheap production. Those conditions are assumptions in a thought experiment, not an established forecast.

Imagine a farm operated efficiently by robots around the clock, then extend that idea to other industries. In such a scenario, everyday goods could become much cheaper; what that would mean for jobs and for people’s future is an open question.

For a deeper discussion, I recommend Ash Stewart’s article in the Forward Future newsletter.