AI on the Brink of a World Without Work

Economists and AI experts predict that the increasing adoption of artificial intelligence could lead to a world without work, where humans have the luxury of 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 explained the idea on the podcast "Explain It to Me" that AI abundance essentially means that AI systems can perform tasks that are currently done by humans, freeing up time and resources for more creative and fulfilling pursuits. "If we can automate all the tasks that are repetitive and boring, we can then focus on the things that are creative and interesting," Korinek said. "That's the promise of AI abundance." The idea of AI abundance is not new, but it has gained traction in recent years as AI technology has advanced. According to Korinek, AI abundance could lead to a significant reduction in working hours, potentially even a world without work. "If we can automate all the tasks that are repetitive and boring, we can then focus on the things that are creative and interesting," Korinek said. However, the concept of AI abundance also raises concerns about the impact on employment and the economy. Some experts argue that while AI may automate some jobs, it will also create new ones, such as in the field of AI development and maintenance. "The key is to make sure that the benefits of AI are shared by all, and that we don't leave behind those who are not able to adapt to the changing job market," said Jonquilyn Hill, host of "Explain It to Me." The idea of AI abundance is still in its early stages, and it remains to be seen how it will play out in practice. However, experts agree that it has the potential to revolutionize the way we live and work. "The future is uncertain, but one thing is clear: AI is going to change the world," Korinek said. As AI technology continues to advance, it is likely that we will see more discussions and debates about the implications of AI abundance. Experts will need to weigh the benefits and drawbacks of a world without work and consider how to ensure that the benefits are shared by all. For now, the idea of AI abundance remains a topic of speculation and debate, but it is clear that it has the potential to shape the future of work and society.