AI Could Redefine Work: A World Where Humans Pursue Their Passions

Economists and AI experts have been warning about the potential for artificial intelligence to displace human workers, but some argue that this could lead to a world without work, where people have the time and resources to pursue their passions. According to Anton Korinek, an economics professor at the University of Virginia, this concept is known as AI abundance. Korinek recently explained the idea on the podcast "Explain It to Me," hosted by Jonquilyn Hill. He stated that AI abundance essentially means that machines take over the tasks that people currently do, freeing up time and resources for more creative and fulfilling pursuits. This, in turn, could lead to a world where people have the luxury of not working, or at least not working in the classical sense. The idea of AI abundance is not new, but it has gained traction in recent years as AI has become more advanced and widespread. Some experts argue that this could be a positive development, as it would allow people to focus on activities that bring them joy and fulfillment, rather than just working to make a living. However, others are more skeptical, citing concerns about the impact on the economy and society as a whole. One of the key concerns is that if AI takes over many jobs, it could lead to widespread unemployment and social unrest. However, Korinek argues that this is not necessarily the case. He points out that while AI may displace some jobs, it will also create new ones, such as in the fields of AI development and maintenance. Additionally, he suggests that the time and resources freed up by AI could be used to pursue new passions and interests, leading to a more creative and fulfilling society. The concept of AI abundance is closely tied to the idea of a universal basic income, which has been proposed as a solution to the problem of unemployment caused by automation. The idea is that every citizen would receive a guaranteed minimum income, regardless of their employment status, allowing them to pursue their passions and interests without fear of financial insecurity. While the idea of AI abundance is still largely theoretical, it is an area of active research and debate. Some companies, such as Universal Basic Income (UBI) startup, are already experimenting with the concept, providing a basic income to participants in exchange for their participation in various projects and activities. As AI continues to advance and become more widespread, the concept of AI abundance is likely to become more relevant. While there are many challenges and uncertainties associated with this idea, it also offers the potential for a more creative, fulfilling, and equitable society. As Korinek notes, "AI abundance is not just a utopian dream, but a realistic possibility that we should be exploring and preparing for."