rtificial Intelligence, Jobs and the Future of Work: Racing with the Machines.
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Questions and Answers

What is the proposed solution to mitigate future technological unemployment?

  • Implementing a new social security system
  • Increasing the retirement age
  • Taxing industries that make use of robotic labour (correct)
  • Outsourcing jobs to developing countries

    • What is the term typically used to describe a computer program that can perform tasks associated with human intelligence?

  • Artificial Intelligence (correct)
  • Augmented Reality
  • Virtual Reality
  • Artificial Labor

    • What is the proposed source of funding for the Unconditional Universal Basic Income scheme?

  • Taxing 'smart' machines and fully automated firms (correct)
  • Borrowing from international banks
  • Raising income tax on individuals
  • Imposing sales tax on consumer goods

    • What is meant to ensure that humans remain relevant in the labor market, according to the proposal?

    <p>Retraining programs and a reorientation of the education system</p> Signup and view all the answers

    What does the proposal suggest as a means to counter the negative aspects of technological advancement for individuals?

    <p>Introduction of an Unconditional Universal Basic Income</p> Signup and view all the answers

    What is the primary focus of public discussions around unemployment, according to the paper?

    <p>Structural changes in the economy due to technological development</p> Signup and view all the answers

    What is the potential impact of AI on future employment based on current trends?

    <p>Significant displacement of labor is predicted</p> Signup and view all the answers

    Which area has AI already substituted human employment in?

    <p>Customer service and retail</p> Signup and view all the answers

    In what form is AI rapidly entering our daily lives?

    <p>Driverless cars and automated online assistants</p> Signup and view all the answers

    What is the potential consequence of unchecked technological displacement of labor?

    <p>Catastrophic societal unemployment levels</p> Signup and view all the answers

    Who is one of the authors of the article 'Artificial Intelligence, Jobs and the Future of Work: Racing with the Machines'?

    <p>Edvard P.G. Bruun</p> Signup and view all the answers

    Where is the first author affiliated with?

    <p>Princeton University</p> Signup and view all the answers

    What is the simplest way of thinking about risk, as mentioned in the text?

    <p>Risk is a product of probability and impact</p> Signup and view all the answers

    According to the text, what does R = P x I represent?

    <p>The relationship between risk, probability, and impact</p> Signup and view all the answers

    What is the main debate centered around regarding the Check and Checkmate scenarios?

    <p>Whether AI is just another general-purpose technology (GPT)</p> Signup and view all the answers

    Based on the information in the text, what distinguishes AI from previous general-purpose technologies (GPTs)?

    <p>Continuous improvement at a faster pace</p> Signup and view all the answers

    According to the text, why does AI present a unique challenge to the traditional relationship between output and employment?

    <p>It challenges the concept of increased output leading to increased employment</p> Signup and view all the answers

    Based on the text, what types of tasks are currently in the early stages of being automated with the help of AI technology?

    <p>Non-routine cognitive tasks across all industries</p> Signup and view all the answers

    What is the main challenge associated with linear thinking in the context of exponential growth?

    <p>It underpredicts the magnitude of change due to rapid acceleration.</p> Signup and view all the answers

    What was the Wise Man's reward for inventing the game of chess for the Emperor?

    <p>A grain of rice on each square of the chessboard, doubling each day until the 64th square.</p> Signup and view all the answers

    According to Ray Kurzweil, what happens after entering the 'second half of the chessboard' with respect to the development of computers and Information Technology?

    <p>Exponential growth yields explosive results that completely dwarf the past.</p> Signup and view all the answers

    What is the purpose of conducting a scenario planning exercise in the context of AI technologies?

    <p>To envision situations that may occur and prepare for an uncertain future.</p> Signup and view all the answers

    In which scenario does the AI revolution result in rapid job loss as a consequence of the economy's inability to adjust?

    <p>Checkmate</p> Signup and view all the answers

    What are linear thinkers' beliefs about the impact of artificial intelligence on employment?

    <p>AI will lead to job creation in new industries to match those lost in fully automated sectors.</p> Signup and view all the answers

    What is the main concern regarding the advancement of artificial intelligence and automation according to the text?

    <p>The potential decline in human employment due to the automation of various job sectors</p> Signup and view all the answers

    According to the text, which job sectors are imminently automatable?

    <p>Agriculture, cargo handling, and transportation</p> Signup and view all the answers

    What is the expected impact of AI on the level of human employment according to the text?

    <p>Severe, with a high percentage of jobs falling into the high-risk category for automation</p> Signup and view all the answers

    What is the proposed strategy in the following chapters according to the text?

    <p>To start a discussion on how to plan for a worst-case scenario in the age of AI</p> Signup and view all the answers

    What does the text imply about the displacement of a large percentage of the workforce due to AI and automation?

    <p>It poses a significant challenge for society to accommodate such displacement</p> Signup and view all the answers

    What does the text suggest about planning for the future impact of AI on human employment?

    <p>It is a prudent exercise to lead to more informed decision-making</p> Signup and view all the answers

    What is the Unconditional Universal Basic Income (UUBI)?

    <p>A periodic transfer of money to every individual in the society, irrespective of their position, job, or financial means</p> Signup and view all the answers

    What did Thomas Paine suggest in 1795 regarding income distribution?

    <p>A minimum guaranteed income paid to individuals at the age of twenty-one and fifty</p> Signup and view all the answers

    Who proposed the introduction of a negative income tax as a progressive income taxation system?

    <p>Milton Friedman</p> Signup and view all the answers

    What was the purpose of Milton Friedman's proposed negative income tax?

    <p>To award individuals with low income a supplemental government-sanctioned grant</p> Signup and view all the answers

    According to the text, what would a massive technological displacement of labor do to national budgets?

    <p>Stretch national budgets to the limit</p> Signup and view all the answers

    What is the main concern about the impact of widespread automation at the hands of artificial intelligence?

    <p>The distortionary impact on the stability of developed countries</p> Signup and view all the answers

    Who suggested the creation of a minimum guaranteed income and means of funding it via an extra tax on landowners?

    <p>Thomas Paine</p> Signup and view all the answers

    What does UUBI stand for?

    <p>Unconditional Universal Basic Income</p> Signup and view all the answers

    According to the text, how does economic opportunity reflect the balance of power in a society?

    <p>&quot;Money begets you [political] power&quot;</p> Signup and view all the answers

    What did mainstream economists consider in the twentieth century as genuine and effective economic tools to combat poverty and unemployment?

    <p><em>Universal basic income</em> as genuine and effective economic tools</p> Signup and view all the answers

    What is the proposed solution to mitigate future technological unemployment?

    <p>Implementing a tax on robotic labor</p> Signup and view all the answers

    What is the Unconditional Universal Basic Income (UUBI)?

    <p>A periodic transfer of money from the government to every citizen in the society</p> Signup and view all the answers

    What does the proposal suggest as a means to counter the negative aspects of technological advancement for individuals?

    <p>Taxation of smart machines and fully automated firms</p> Signup and view all the answers

    What is the purpose of conducting a scenario planning exercise in the context of AI technologies?

    <p>To create a roadmap for implementing nationwide reforms</p> Signup and view all the answers

    What does the fable of the Wise Man and the chessboard analogy illustrate?

    <p>The exponential growth of rice grains on the chessboard and its relation to the development of computers and Information Technology</p> Signup and view all the answers

    According to the scenario analysis, what is the 'Checkmate' scenario in relation to AI and employment?

    <p>The AI revolution leads to social instability due to mass technological unemployment and an inability of the economy to adapt</p> Signup and view all the answers

    What do the linear thinkers believe about the impact of artificial intelligence on employment?

    <p>AI will lead to significant job creation in new industries, offsetting any job losses due to automation</p> Signup and view all the answers

    Why is scenario planning considered important according to the text?

    <p>To eliminate biases and blind-spots in recognizing and adapting to changing environments</p> Signup and view all the answers

    What is the potential impact of AI on future employment based on current trends?

    <p>Significant technological displacement of labor leading to catastrophic societal unemployment levels</p> Signup and view all the answers

    What does R = P x I represent according to the text?

    <p>Relationship between economic output and employment</p> Signup and view all the answers

    What is the proposed solution to mitigate future technological unemployment according to the text?

    <p>Introduction of Unconditional Universal Basic Income (UUBI)</p> Signup and view all the answers

    What distinguishes AI from previous general-purpose technologies (GPTs) according to the text?

    <p>Ability to substitute human employment in areas previously thought uncomputerizable</p> Signup and view all the answers

    What is the simplest way of thinking about risk, as mentioned in the text?

    <p>Risk is a product of probability and impact (R = P x I)</p> Signup and view all the answers

    What distinguishes AI from previous general-purpose technologies (GPTs), according to the text?

    <p>AI combines the speed and efficiency of a machine with the creativity and agency of a human</p> Signup and view all the answers

    What does R = P x I represent, as mentioned in the text?

    <p>Risk is a product of probability and impact</p> Signup and view all the answers

    What is the main debate centered around regarding the Check and Checkmate scenarios, as per the text?

    <p>Whether AI is just another general-purpose technology (GPT)</p> Signup and view all the answers

    What is the expected annual decrease in the price of robots, as mentioned in the text?

    <p>10%</p> Signup and view all the answers

    According to the text, which sector has already seen significant substitution of human employees with robots?

    <p>Manufacturing</p> Signup and view all the answers

    What is the potential impact of AI on future employment based on current trends, as described in the text?

    <p>Severe job loss</p> Signup and view all the answers

    What is the primary focus of public discussions around unemployment, according to the paper?

    <p>Concerns about income distribution</p> Signup and view all the answers

    What does the Unconditional Universal Basic Income (UUBI) entail?

    <p>It seeks to meet all the basic living needs of an individual through unconditional, periodic transfer of money.</p> Signup and view all the answers

    According to the text, who suggested the creation of a minimum guaranteed income and means of funding it via an extra tax on landowners?

    <p>Thomas Paine</p> Signup and view all the answers

    What did mainstream economists consider in the twentieth century as genuine and effective economic tools to combat poverty and unemployment?

    <p>Negative income tax</p> Signup and view all the answers

    What was proposed by Nobel laureate Milton Friedman as a progressive income taxation system?

    <p>Negative income tax</p> Signup and view all the answers

    What is the main feature of the Unconditional Universal Basic Income (UUBI) according to the text?

    <p>It involves an unconditional, periodic transfer of money to every individual in the society.</p> Signup and view all the answers

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