Part 10/16:
He presents data predicting a loss of 73 million jobs by 2030, raising concerns about mass unemployment and a shrinking workforce.
Why Are Machines So Cost-Effective?
One key reason machines outcompete humans is cost—they require no insurance, no benefits, and no unions. AI like ChatGPT costs only a few dollars per hour but can perform tasks that would otherwise require multiple humans. In this converging landscape, large companies will favor automation to maximize profits.
This trend echoes the historical pattern: as machinery and technology replace manual labor, entire sectors evaporate even as new opportunities emerge. Yet, the transition often leaves societal wounds—mass unemployment and social instability.