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The major concern of artificial intelligence is not its use, but rather its benefits. For instance, a worker who has been an accountant for many years doesn't dislike AI for the fact that it do s work much faster and efficiently or because it will replace him in the office but rather for the fact that his monthly salary is at risk.
Of course on the other hand, the entrepreneur or big firm can keep that extra cash that would have been spent on salary. So the line to draw as concerning AI is, will it benefit ALL or just a privileged few. If you are to ask me, it seems we are tilting in the direction of excessive control. Maybe a talk for another day, till then, we will be delving into the concept of dual economy and how AI will merge with it.
Ok, I just picked up a piece of yellow page from my room and it took me back to when I had a conversation with a friend concerning the best strategy to scale my business. He did talk about something like dual capitalism during this conversation which I jotted down to make research later. So what those it talks about; a coexistence of both manual and digital sectors to benefit both pairs.
It made much sense to talk about this many years back during the era of industrialization; at least there was still much manuality in-between. technology has moved at a much faster pace that a woman selling fish in the environment may not be able to win his neighbor’s heart courtesy of cutting hedge technology.
Of course he (the neighbor) just stayed in the comfort of his room and ordered for the fish online (although the store house is many miles away) and it gets delivered on time, class and convenience. She has fish, she has an outlet, she comes out to keep business premises open but the customer base is challenging although almost everyone living in that environment makes use of fish in their meal.
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I don't know if you get where I am going; this has gone beyond having a product or place of sales. The same fate is in the white collar industry. Take a look at how competing remote and work from home jobs have been. We can put this at national and even the global stage, business is moving faster and old pattern entrepreneurs are suffering.
So we can say dual capitalism shifted from balance a long time ago probably from the early 1990’s when the Internet started making waves. So what will artificial intelligence do?; many are seeing an economic exacerbation.
You can't doubt much because we are talking of a technology that can round up many people's jobs in minutes to seconds. Even those who understand tech trends are in trouble not to talk of the one still much dependent on manualities.
To conclude, let me add, it turns to the matter of how big beneficiaries cooperate when the job market gets hugely slashed. Attention will be turned to government interventions to set boundaries and also help in profit fair sharing. Aside from this, many will be doomed.
This is an article covered by dani-EL; a broad niche writer. I write on faith, life facts and daily living, business and economics, small scale and daily businessing, cryptocurrency and technology. And yes, I do cover articles on financial education and investment updates. And note, if I happen to be a financial adviser to you, the TOP financial advice should be ‘DYOR’ (Do Your Own Research), I can't afford to break your heart.
