A new economic report by the World Economic Forum I know,
but just keep listening.
Finds that as many as 14 million jobs will be lost to AI
technology over the next five years.
Now, how did they conduct this study?
Well, what they did is they spoke to 800 companies.
They surveyed these companies to see what they plan on doing with
the ongoing development of AI technology.
How will it impact their workplaces?
Employers expect to create 69 million new jobs by 2027,
but eliminate 83 million positions.
That will result in a net loss of 14 million jobs,
equivalent to 2% of current employment.
So who would be impacted the most by this?
According to CNN's reporting, there could be 26 million fewer record keeping and
administrative jobs by 2027.
And that was cited specifically by the World Economic Forum and
their study on this data entry clerks and
executive secretaries are expected to see the steepest losses.
However, the development of AI could lead to increases in
jobs in certain sectors of the economy.
For instance, employment of data analysts and scientists,
machine learning specialists and
cybersecurity experts is forecast to grow by 30% on average by 2027.
Now, before we get to more details on this,
I just want to warn you all that this is a survey, right?
So the World Economic Forum study on this is based on a survey of employers at
800 companies.
And really, the employers here are predicting what they
are likely to do in the coming years.
Those predictions could be off.
So that's something to keep in mind.
And in terms of AI technology progressing,
it's actually progressed slower than expected.
So they could be wrong in their projections to some extent, but honestly,
in my opinion, not by much.
>> So, look, there's a couple of different issues here.
One, is AI going to kill us all?
And some of the founders of AI saying maybe.
>> Hold on for that.
>> Okay, so we're gonna come to that in a second.
But in terms of the jobs, it's crystal clear, in my opinion.
So I get it.
There'll be more jobs created.
There always is.
We lost all the jobs in the horse and buggy industry.
We gained a lot more jobs in the car industry.
So sometimes when there's a transition, it's super painful but
you get to a better place, right?
In this case, though, tons and tons of jobs are going to be eliminated.
And it is super obvious.
So first of all, data entry gone, okay?
Totally gone, eventually, there'll be none of that.
And by the way, there should be none of that.
I remember doing data entry when I was a young intern at a company.
I was like, really?
I remember thinking all the way back then,
it was a long time ago, we have human beings doing this.
This is like the most rote work ever.
>> Really?
I found it exhilarating.
>> Like, my God, I hated it.
Anyway, translators gone.
So look, in person, you're gonna need some translators, but the machine is gonna do
it a lot better eventually because they're gonna learn even the cadence.
They're gonna learn the different lingos that people use that aren't even official.
That kind of learning is super easy for a computer.
So there'll be millions and millions of jobs.
Absolutely, eliminating that's before we get to the truck drivers and
all the other jobs and the factory workers.
Honestly, I'm shocked most of the factory work hasn't already been eliminated
because most of that is just rote repetition that a computer can do.
If you've got I don't even know that you need sophisticated AI for that one.
But obviously you do need some of it, and now we have plenty of it,
which gets us to some of the danger.
>> Right, exactly.
So the danger is how this will devastate people across the globe economically and
how we do not, at least in the context of the United States.
We don't have a governing body that is competent enough to regulate
anything having to do with technology, much less AI technology.
You see some of these either House or Senate hearings where you have these
relics, like sitting there asking questions that make it very clear that
they do not understand simple functions of the Internet.
You get what I'm saying?
>> Yeah, 100%.
>> So that's my top concern, that there's really no representation for
ordinary American workers when it comes to our government.
And so there's that.
If we had a situation in which workplaces were run Democratically, then workers
would have a say over how automation and how this technology gets implemented.
But of course, in America, workers have no say.
So we're in for a lot of pain.
There's no question about it.
>> And guys, there's one thing that's really important that people don't
mention enough.
They say, well, yeah, but the jobs will be replaced with other jobs.
But wait, those are two different sets of jobs.
One is a blue collar job, the other is a very high end tech job.
So like, the guys who are writing the code, yes, there'll be more of them,
but that requires a very significant education,
as opposed to the guy who is working at the factory or as a data entry clerk, etc.
>> It requires an education that would mean that the individual getting
the education would have to take out massive loans, a lot of debt.
So there's that, too.
>> There's one that's true.
Second of all,
it's not the same people like Democrats make this mistake all the time.
>> All the time.
>> They make it sound like,
we're gonna take you out of the steel factory in Allegheny, Pennsylvania.
>> And teach you how to code.
Are you serious?
No, that's got to come much early.
That's very unlikely to be the same people.
So don't give people false promises, right.
Because people get super mad about that, rightfully so.
And guys, the other thing that's gonna happen is America is
at a huge disadvantage there.
Why?
Because we're running out of high tech people with that kind of expertise here.
That's why Silicon Valley is filled with I'm gonna be honest here filled with
Asians, South Asians, East Asians, etc.
Meanwhile, I know for a fact that countries like India, let alone so
many others, are producing tons and millions of coders because they're hungry.
They get to education.
It's a relatively easier way to step up to a much higher salary, and
we're soft, so they're gonna start picking us apart, and
we got to get a better education system here.
But Anna's right may need to go into that,
then you become an indentured servant to corporations the rest of your life.
>> But look, aside from that, right,
aside from the maybe growing number of jobs related to AI technology.
It's still not enough jobs to replace the jobs that will be lost as
a result of AI being used in a more widespread fashion in our economy.
So we're just in a lot of trouble anyway.
But it's not just me who's saying that.
It's not just Cenk who's saying that.
The granddaddy of AI has come out to criticize what's happening here.
I call him granddaddy, I think that's cooler, but
he's also referred to as the Godfather of AI.
He's Dr Geoffrey Hinton, and he said he quit his job at Google, where he has
worked for more than a decade, so he can freely speak out about the risks of AI.
A part of him, he said, now regrets his life's work.
He says, quote, I console myself with the normal excuse if I hadn't done it,
meaning develop AI, someone else would have.
Generative AI can already be a tool for misinformation, so
he's concerned about that.
Soon it could be a risk to jobs somewhere down the line tech's biggest
worriers say it could be a risk to humanity.
Quote, it is hard to see how you can prevent the bad actors from using it for
bad things, Dr Hinton said.
And he is not alone in feeling this.
Finally, I want to mention after the San Francisco startup
OpenAI released a new version of Chat GPT in March.
More than 1000 technology leaders and
researchers signed an open letter calling for a six month moratorium
on the development of new systems because AI technologies pose.
Quote, profound risks to society and humanity, end quote.
>> That sounds really scary.
Okay?
So I'm gonna tell you the one part that I think actually is very scary and
the others that I find to be more normal but first on grandpapa of AI.
Let's call it. >> Granddaddy.
>> Yeah.
So, look, he's a terrific guy.
He used to be an American who worked at Carnegie Mellon,
went to Toronto because he didn't want to work with the Pentagon.
He didn't want to create AI soldiers that could.
>> AI Robots that would be used as.
>> Robot soldiers.
>> Yeah and killing machines, literal killing machines and
here he's saying, look, I thought it was gonna take a lot longer for
artificial intelligence to catch up to the human brain.
I was wrong, and now I'm really worried.
The third thing he's worrying about is he's saying, before, I thought Google,
where he worked, was doing a really good job of safeguarding this technology.
But now that Microsoft is using AI in its search engine, bing,
Google is now worried that they're going to fall behind on their core business.
So they're like, forget it, we're going AI.
And so now that the barn door is open, he's worried about
everything flying out of there and that there's less controls.
So what are we supposed to actually worry about?
As we talked about with the jobs that's definitely that we're gonna lose
millions of jobs.
We'll see how the world adjusts, the America adjusts, etc.
But is that gonna kill us all?
No. Okay, then they're worried, hey,
they're going to be smarter than humans.
Well, in terms of computing,
I've always thought that was the most obvious thing in the world.
I don't know why anybody's surprised, but I remember when they used to have humans
playing chess against the computer, and they're like, the computer will never win.
I was like, it's just a standard number of permutations.
Of course, the computer can do that more efficiently.
Eventually, the computer will win super easily, right?
And of course that happened, guys ou shouldn't be surprised by that.
Their computing power is gonna be way more than our brains, right?
That's not even close.
So then the question is, yeah, but what are we worried about?
And so I want to read you that quote.
So this is the paragraph that concerned me.
New York Times explains down the road,
he's worried that future versions of the technology pose a threat to humanity.
Because they often learn unexpected behavior from the vast amounts of
data that they analyze.
This becomes an issue.
He said, as individuals and companies allow AI systems not only to generate
their own computer code, but actually run that code on their own.
>> No, that sounds like a really good idea, I'm looking forward to that.
>> No, we got to be careful with that.
>> No, we won't be, though.
We won't be.
No, guys, them creating their own code means they have certain autonomy.
>> Yeah.
>> And then if we tell them, well, you know what?
We didn't like how that autonomy turned out.
Stop creating your own code.
What if they create code that says, don't listen to us.
You told us to create code in the first place, so I just created more code, right.
>> AI robots are people, my friends.
>> So here, I'll give you well, but by the way, they're gonna say that soon.
>> No, I know.
>> It's not even joke or hyperbole.
I'll pull a bind.
I'm not kidding.
Okay, so guys, there is already-.
>> AI robots are coming.
>> Okay, no joke.
>> Okay, although ironically, now we're laughing.
Anyways, last thing on this guys, we already have an AI of some sort.
We have legal AI that's called corporations.
So we wrote a code saying maximize profit, this is in our law.
They're fictions of our law.
There's no corporations in the natural world, okay?
And when we created them, we made a giant mistake.
We allowed only one code, which is maximized profit.
We did not put in a second code, which by the way, other countries have.
The second line of code says you're not allowed to crush
the community stakeholders, not just shareholders, etc.
And the government can hold you accountable to that.
We didn't put that code in.
So what happened?
Our corporations completely took on a life of their own and
went on maximizing profit.
And if any CEO or board didn't agree, they were all fired.
And the machine kept rolling and rolling until it crushed all of our wages and
now has us working as indentured servants for corporate machines.
Now imagine if you write that kind of code into a computer program and
then release it into the world.
I've already seen the damage it does in something as arcane as our legal code.
Imagine what it could do in this world, in this technology world.
We cannot allow it to create its own code, but we are it's unleashed and
good luck to the rest of us.