I replaced my assistant with AI + My thoughts on UBI

Summary

In this video, the creator shares their experience of building an AI that completely replaced their human assistant's job, sparking a discussion on the impact of AI and automation on jobs and the economy. They discuss the potential for massive unemployment and the need for societal and economic adaptation, exploring solutions like Universal Basic Income (UBI) and the importance of acquiring skills that AI cannot replicate, such as tacit knowledge and emotional intelligence. The video urges viewers to prepare for the AI age by learning about automation and considering a career shift to industries less likely to be automated.

Takeaways

• 😲 The speaker replaced their human assistant's job with an AI automation, achieving a 100% task replacement.
• 📊 The potential impact of AI and automation on jobs is significant, with estimates ranging from 87 to 150 million jobs at risk.
• 💡 The realization of AI's impact came to the speaker personally when they had to let go of their human assistant due to AI taking over her role.
• 🔧 The speaker's AI automation project started as an attempt to improve customer service response times and streamline email handling.
• 📝 They trained an AI on 100 emails and created a FAQ list, resulting in an AI assistant named Stephanie that reduced the speaker's inbox volume by 50% and even closed a sale.
• 💰 The financial impact of AI is stark, with a reduction from a $11,000 monthly human assistant cost to a $50-60 monthly cost for the AI assistant.
• 🌐 The speaker discusses the broader economic implications, including the potential for reduced consumption and government tax revenue, which could shrink GDP.
• 💼 The video touches on government strategies to stimulate the economy, such as lowering interest rates, issuing bonds, and printing money, each with its own drawbacks.
• 🌳 The concept of Universal Basic Income (UBI) is presented as a potential solution to support those displaced by AI, though the speaker does not support it due to concerns about reduced productivity.
• 🚀 The speaker suggests that learning and understanding AI and automation is crucial for individuals to prepare for the future job market and to consider careers in industries less likely to be disrupted by AI.
• 🧡 Emphasizes the importance of developing soft skills such as empathy, conflict management, and leadership, which are irreplaceable by AI in the job market.

Q & A

What percentage of tasks did the AI automation replace for the human assistant in the video?

The AI automation replaced 100% of the tasks that the human assistant was doing.

What is the main concern the video creator expresses about AI and automation in the business world?

The main concern is the potential for massive job displacement due to AI and automation, and the implications this could have on society and the economy.

What was the estimated cost reduction for the business owner after implementing the AI assistant compared to the human assistant?

The cost reduction was significant, from $11,000 a month for the human assistant to $50 to $60 per month for the AI assistant.

How did the AI assistant perform in terms of customer service as described in the video?

The AI assistant, named Stephanie, improved customer service by reducing response times and even closed a sale, which was a significant achievement.

What is the GDP equation mentioned in the video, and how does it relate to the impact of AI and automation on the economy?

The GDP equation is GDP = C + I + G + NX, where C is consumption, I is investment, G is government spending, and NX is net exports. The video suggests that job displacement due to AI and automation could reduce consumption, leading to a decrease in GDP.

What are the three methods the government can use to stimulate the economy as discussed in the video?

The three methods are lowering interest rates, borrowing money through bonds, and printing more money.

What are the potential drawbacks of the government printing more money as a stimulus measure?

The potential drawbacks include inflation and, in extreme cases, hyperinflation, which can have long-lasting devastating effects on the economy.

What is the concept of Universal Basic Income (UBI), and how does it relate to the impact of AI and automation on jobs?

UBI is a concept where everyone receives a basic living wage. It is suggested as a solution to combat job displacement due to AI and automation, providing financial security to those affected.

What are the arguments against implementing Universal Basic Income (UBI) according to the video?

Opponents of UBI argue that it does not create true productivity in the economy and may reduce the incentive for people to work, thus lowering overall productivity.

What is the video creator's stance on Universal Basic Income (UBI), and what alternative solution does he propose?

The video creator does not support UBI but acknowledges the lack of a clear alternative solution. He suggests that individuals should learn about AI and automation and adapt their skills to remain valuable in the job market.

What advice does the video offer to individuals preparing for the AI age in terms of career planning?

The advice is to learn about AI and automation, understand the technology, and identify skills and industries that cannot be easily replaced by AI, focusing on acquiring tacit knowledge and soft skills to become irreplaceable.

What are the two industries mentioned in the video that are expected to thrive in the post-AI era?

The two industries are AI itself and anything related to the longevity of life.

What is the importance of soft skills in the post-AI era according to the video?

Soft skills such as conflict management, leadership, empathy, kindness, and love are considered more critical in the post-AI era because they differentiate humans from AI, which cannot genuinely experience emotions.

What mindset shift is suggested in the video to prepare for the AI age?

The suggested mindset shift is to move away from the traditional idea of trading time for money, as AI can perform many tasks more efficiently. Instead, individuals should focus on developing skills and income sources that are not easily automated.