I never want to talk about politics, and who would have thought that AI and capitalism would be in the same sentence? Unfortunately, we live in a world where not of all of people are getting equal responsibilities, or their effort is threatening others.

Some people are not paid the same as others because of their gender, color or many other factors that should not be taken into consideration when evaluating someone’s work.

Thankfully for Us, Artificial Intelligence is on the Way to Stop Capitalism

AI or Artificial Intelligence is starting to be part of every job now, taking away repetitive tasks. Does that mean that people will lose their jobs?  No, people will be more efficient, and hopefully, more appreciated for the work that they do.

An average person spends about 25% – 35% of their work time doing repetitive tasks, and that`s time that they can spend in other areas of their job to make their role in the business more successful.

AI, even now, is taking a part of the big project in all Fortune 500 companies. Why? AI never makes a mistake and can work all the time, but of course, you need a human to run it – so as you can see, we are not replaced, yet.

People are scared of losing their jobs, regular income and all the benefits that come with it. However, if you think bigger, you probably spend about 15 minutes in exchanging emails to find a free slot to schedule a call or to find a specific person or a file that is forgotten.

Well, AI can do that in just a few minutes, which gives you time to focus on other things.

But What AI Actually Means for Capitalism

We live in a material world. We pay taxes, but will AI also pay taxes?

If you think about it, they will also be workers that will automate the tasks that humans do, so eventually, they should pay taxes – right?

However, AI is on a sound path to changing capitalism because capitalism is powered by creating monopolies and is being rewarded for that, but not now, not with AI.

Capitalism is built mainly on individuals paying for things and the promise of social mobility – being able to work hard to earn more to buy more.

AI, on the other hand, will not receive any income but in case they do, how would they spend it? What would capitalism look like in a world like that?

Maybe it will change its shape because if you take a better look, big corporations will still have a monopoly on the AI software that can work better and more cheaply than humans, so think about it next time when you are on a break.

Final Thoughts

We work, we earn and we spend. We spend more than we need to, and we judge people on what they wear and where they shop, so we are feeding the capitalist world.

However, is AI changing capitalism, or is it making it worse? Will AI take all of our work or will it improve every step of it?

Posted by Maya K.