Metaverse
What will humans do if technology solves everything? – Crypto News
That is one question considered in a new publication by Nick Bostrom, a philosopher at the University of Oxford, whose last book argued that humanity faced a one-in-six chance of being wiped out in the next 100 years, perhaps owing to the development of dangerous forms of artificial intelligence (AI). In Mr Bostrom’s latest book, “Deep Utopia”, he considers a rather different outcome. What happens if AI goes extraordinarily well? Under one scenario Mr Bostrom contemplates, the technology progresses to the point at which it can do all economically valuable work at near-zero cost. Under a yet more radical scenario, even tasks that you might think would be reserved for humans, such as parenting, can be done better by AI. This may sound more dystopian than utopian, but Mr Bostrom argues otherwise.
Start with the first scenario, which Mr Bostrom labels a “post-scarcity” utopia. In such a world, the need for work would be reduced. Almost a century ago John Maynard Keynes wrote an essay entitled “Economic Possibilities for Our Grandchildren”, which predicted that 100 years into the future his wealthy descendants would need to work for only 15 hours a week. This has not quite come to pass, but working time has fallen greatly. In the rich world average weekly working hours have dropped from more than 60 in the late 19th century to fewer than 40 today. The typical American spends a third of their waking hours on leisure activities and sports. In the future, they may wish to spend their time on things beyond humanity’s current conception. As Mr Bostrom writes, when aided by powerful tech, “the space of possible-for-us experiences extends far beyond those that are accessible to us with our present unoptimised brains.”
Yet Mr Bostrom’s label of a “post-scarcity” utopia might be slightly misleading: the economic explosion caused by superintelligence would still be limited by physical resources, most notably land. Although space exploration may hugely increase the building space available, it will not make it infinite. There are also intermediate worlds where humans develop powerful new forms of intelligence, but do not become space-faring. In such worlds, wealth may be fantastic, but lots of it could be absorbed by housing—much as is the case in rich countries today.
“Positional goods”, which boost the status of their owners, are also still likely to exist and are, by their nature, scarce. Even if AIs surpass humans in art, intellect, music and sport, humans will probably continue to derive value from surpassing their fellow humans, for example by having tickets to the hottest events. In 1977 Fred Hirsch, an economist, argued in “The Social Limits to Growth” that, as wealth increases, a greater fraction of human desire consists of positional goods. Time spent competing goes up, the price of such goods increases and so their share of GDP rises. This pattern may continue in an AI utopia.
Mr Bostrom notes some types of competition are a failure of co-ordination: if everyone agrees to stop competing, they would have time for other, better things, which could further boost growth. Yet some types of competition, such as sport, have intrinsic value, and are worth preserving. (Humans may also have nothing better to do.) Interest in chess has grown since IBM’s Deep Blue first defeated Garry Kasparov, then world champion, in 1997. An entire industry has emerged around e-sports, where computers can comfortably defeat humans. Their revenues are expected to grow at a 20% annual rate over the next decade, reaching nearly $11bn by 2032. Several groups in society today give us a sense of how future humans might spend their time. Aristocrats and bohemians enjoy the arts. Monastics live within themselves. Athletes spend their lives on sport. The retired dabble in all these pursuits.
Everyone’s early retirement
Won’t tasks such as parenting remain the refuge of humans? Mr Bostrom is not so sure. He argues that beyond the post-scarcity world lies a “post-instrumental” one, in which AIs would become superhuman at child care, too. Keynes himself wrote that “there is no country and no people, I think, who can look forward to the age of leisure and of abundance without a dread. For we have been trained too long to strive and not to enjoy…To judge from the behaviour and the achievements of the wealthy classes today in any quarter of the world, the outlook is very depressing!” The Bible puts it more succinctly: “idle hands are the devil’s workshop.”
These dynamics suggest a “paradox of progress”. Although most humans want a better world, if tech becomes too advanced, they may lose purpose. Mr Bostrom argues that most people would still enjoy activities that have intrinsic value, such as eating tasty food. Utopians, believing life had become too easy, might decide to challenge themselves, perhaps by colonising a new planet to try to re-engineer civilisation from scratch. At some point, however, even such adventures might cease to feel worthwhile. It is an open question how long humans would be happy hopping between passions, as Peer does in “Permutation City”. Economists have long believed that humans have “unlimited wants and desires”, suggesting there are endless variations on things people would like to consume. With the arrival of an AI utopia, this would be put to the test. Quite a lot would ride on the result.
For more expert analysis of the biggest stories in economics, finance and markets, sign up to Money Talks, our weekly subscriber-only newsletter.
© 2024, The Economist Newspaper Limited. All rights reserved. From The Economist, published under licence. The original content can be found on www.economist.com
Milestone Alert!
Livemint tops charts as the fastest growing news website in the world 🌏 Click here to know more.
3.6 Crore Indians visited in a single day choosing us as India’s undisputed platform for General Election Results. Explore the latest updates here!
Download The Mint News App to get Daily Market Updates.
Published: 09 Jun 2024, 07:04 PM IST
-
Technology1 week agoSam Altman says OpenAI is developing a ‘legitimate AI researcher’ by 2028 that can discover new science on its own – Crypto News
-
Blockchain1 week agoXRP Price Gains Traction — Buyers Pile In Ahead Of Key Technical Breakout – Crypto News
-
De-fi7 days agoBittensor Rallies Ahead of First TAO Halving – Crypto News
-
De-fi1 week agoNearly Half of US Retail Crypto Holders Haven’t Earned Yield: MoreMarkets – Crypto News
-
Technology1 week agoMicrosoft ‘tricked users into pricier AI-linked 365 plans,’ says Australian watchdog; files lawsuit – Crypto News
-
De-fi1 week agoAI Sector Rebounds as Agent Payment Systems Gain Traction – Crypto News
-
Blockchain1 week agoBig Iran Bank Goes Bankrupt, Affecting 42 Million Customers – Crypto News
-
Business1 week ago
Crypto Market Rally: BTC, ETH, SOL, DOGE Jump 3-7% as US China Trade Talks Progress – Crypto News
-
Cryptocurrency1 week agoBitcoin Accumulation Patterns Show Late-Stage Cycle Maturity, Not Definite End: CryptoQuant – Crypto News
-
Technology1 week ago
Ethereum Supercycle Strengthens as SharpLink Gaming Withdraws $78.3M in ETH – Crypto News
-
Blockchain1 week agoIBM Set to Launch Platform for Managing Digital Assets – Crypto News
-
others1 week agoGBP/USD floats around 1.3320 as softer US CPI reinforces Fed cut bets – Crypto News
-
De-fi1 week agoNearly Half of US Retail Crypto Holders Haven’t Earned Yield: MoreMarkets – Crypto News
-
Cryptocurrency1 week agoWestern Union eyes stablecoin rails in pursuit of a ‘super app’ vision – Crypto News
-
others1 week ago
Platinum price recovers from setback – Commerzbank – Crypto News
-
others1 week ago
Indian Court Declares XRP as Property in WazirX Hack Case – Crypto News
-
Blockchain1 week agoSolana Eyes $210 Before Its Next Major Move—Uptrend Or Fakeout Ahead? – Crypto News
-
De-fi1 week agoREP Jumps 50% in a Week as Dev Gets Community Support for Augur Fork – Crypto News
-
De-fi7 days agoBitcoin Dips Under $110,000 After Fed Cuts Rates – Crypto News
-
De-fi1 week agoNearly Half of US Retail Crypto Holders Haven’t Earned Yield: MoreMarkets – Crypto News
-
Cryptocurrency1 week agoUSDJPY Forecast: The Dollar’s Winning Streak Why New Highs Could Be At Hand – Crypto News
-
De-fi1 week agoMetaMask Fuels Airdrop Buzz With Token Claim Domain Registration – Crypto News
-
De-fi1 week agoTokenized Nasdaq Futures Enter Top 10 by Volume on Hyperliquid – Crypto News
-
Technology1 week agoBenQ MA270U review: A 4K monitor that actually gets MacBook users right – Crypto News
-
Blockchain1 week agoXRP/BTC Retests 6-Year Breakout Trendline, Analyst Calls For Decoupling – Crypto News
-
others1 week ago
Is Changpeng “CZ” Zhao Returning To Binance? Probably Not – Crypto News
-
Business1 week ago
Crypto ETFs Attract $1B in Fresh Capital Ahead of Expected Fed Rate Cut This Week – Crypto News
-
Cryptocurrency1 week agoInside Bitwise’s milestone solana ETF launch – Crypto News
-
Business7 days agoStarbucks Says Turnaround Strategy Drives Growth in Global Sales – Crypto News
-
Technology1 week agoSurvival instinct? New study says some leading AI models won’t let themselves be shut down – Crypto News
-
others1 week agoGold weakens as US-China trade optimism lifts risk sentiment, focus turns to Fed – Crypto News
-
Cryptocurrency1 week agoGold Price Forecast 2025, 2030, 2040 & Investment Outlook – Crypto News
-
Metaverse1 week agoIt isn‘t just AI. Earnings and the economy show the rally has legs. – Crypto News
-
Cryptocurrency1 week agoKERNEL price goes vertical on Upbit listing, hits $0.23 – Crypto News
-
Cryptocurrency1 week agoCitigroup and Coinbase partner to expand digital-asset payment capabilities – Crypto News
-
Cryptocurrency1 week agoWhy Is Pi Network’s (PI) Price Up by Double Digits Today? – Crypto News
-
De-fi1 week agoCrypto Market Edges Lower While US Stocks Hit New Highs – Crypto News
-
others1 week ago
Can ASTER Price Rebound 50% as Whale Activity and Bullish Pattern Align? – Crypto News
-
Technology7 days agoGiving Nvidias Blackwell chip to China would slash USs AI advantage, experts say – Crypto News
-
others5 days agoMETA stock has lower gaps to fill – Crypto News
-
Metaverse1 week agoIt isn‘t just AI. Earnings and the economy show the rally has legs. – Crypto News
-
De-fi1 week agoCRO Jumps After Trump’s Truth Social Announces Prediction Market Partnership with Crypto.Com – Crypto News
-
Technology1 week ago
Breaking: $2.6B Western Union Announces Plans for Solana-Powered Stablecoin by 2026 – Crypto News
-
Blockchain1 week agoVisa To Support Four Stablecoins on Four Blockchains – Crypto News
-
others1 week ago
Pi Coin Gains Another 15% As Pi Network Joins ISO 20022 For Seamless Banking Integration – Crypto News
-
others1 week agoBank of Canada set to cut interest rate for second consecutive meeting – Crypto News
-
Technology1 week agoInstagram finally lets you relive every Reel you’ve watched with ‘Watch History’ feature – Crypto News
-
Business1 week ago
Trump Tariffs: Secretary Bessent Declares ‘Fantastic’ Trump–Xi Talks, Bitcoin Breaks $113,000 – Crypto News
-
Cryptocurrency1 week ago‘Moments of the Unknown’: Justin Aversano Shares Globetrotting Love Letter to Humanity – Crypto News
-
Blockchain1 week agoThe Bitcoin Stock-To-Flow ModelIsn’t the Best BTC Forecast Model: Analyst – Crypto News
