Why AI Will Be A Big Boom For Capitalism

Artificial Intelligence will be a big boom for capitalism. The creation of something smarter than us will increase companies’ efficiency and will change the way companies do business.

This technology will change the way we live and work, as there will be some ups and downs, but it is our future.

♦ The future

We can all imagine that AI will be on the side of the huge enterprise machinery that is the core of capitalism itself in today’s world.

The benefits for companies will be enormous with the advancements made in this technology. The profits will go up, and they will save tons of money by lowering the expenses that they have today.

Here are some examples on how AI will lower companies’ expenses by substituting people:

  • No need for renting extra space
  • No need for office materials
  • No need for heating and cooling, etc…

Some of the banks like Wells Fargo are planning to shut down 400 branches all over the States by the end of 2018. Their goal is to save about $2 billion a year. This is all made possible because of the improvement in online banking, and this is just a start.

♦ Unemployment

Unemployment will increase dramatically, like never before. The unemployment rate number is the biggest now than ever before in human history, and with AI, this will increase even more.

Numerous sectors already are trying to layoff employees and adjust their business on internet-based operations and AI technology implementation.

The first targeted industries that are affected by this technology today are:

  • Retail
  • Banking
  • Travel
  • Customers Service

♦ The Internet

In fact, the internet helped us to create and sell something from thin air. The creation of an industry for developing apps for computers and Smartphones was made possible, and so was a new employment opportunity.

Developing was not the only new employment opportunity that was created by the internet. All kinds of working from home jobs were created that helped boost the economy. With Artificial Intelligence, this can change if we allow capitalism to take charge of this advancement in technology, as there may be another economic collapse.

♦ Be prepared

Don’t be scared just be prepared. All we need to do is to start learning and get involved with this AI technology so we can procreate our earning in case there are layoffs.

Learning to use this technology to be self-employed is a measure that we will need to implement. We must find the time to educate ourselves so we can change things for the better. Leaving our fate in the hands of capitalist machinery will not be a good idea.

Final Thoughts with ChattyPeople

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Use our platform, here at ChattyPeople, and build a chatbot today. There is no need for coding, and the platform is user-friendly and easy to navigate.

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Posted by Maya S.