AI could eliminate low-wage jobs in several ways. One way is through automation. AI-powered machines and robots can perform many manual labor jobs faster, more accurately, and more efficiently than humans, which can make human labor redundant. For example, self-driving vehicles, automated factories, and intelligent assistants can all replace human workers.
Another way is through the use of AI algorithms that can perform cognitive tasks, such as customer service or data entry. These algorithms can analyze large amounts of data, learn from it, and provide accurate responses or recommendations. As these algorithms become more sophisticated, they can replace human workers who perform similar tasks.
The elimination of low-wage jobs can have a significant impact on people's livelihoods, especially those who rely on such jobs to make ends meet. If large numbers of people lose their jobs, it could lead to widespread economic insecurity, poverty, and social unrest.
One potential solution to address the impact of job loss caused by AI is to implement a universal basic income (UBI). UBI is a program where all citizens receive a set amount of money from the government to cover their basic needs. The goal of UBI is to provide people with a safety net, so they can meet their basic needs and maintain a decent standard of living, even if they are not employed.
AI could provide the necessary resources to fund UBI programs by reducing costs and increasing productivity. Automated systems could reduce overhead and manufacturing costs, which could increase profits and tax revenue. As a result, governments could use these savings to fund UBI programs, which could help reduce poverty, increase economic security, and provide a safety net for those affected by the loss of low-wage jobs.
In summary, AI could eliminate low-wage jobs through automation and the use of AI algorithms, which could lead to economic insecurity for those affected. UBI could provide a solution to this problem by ensuring that all citizens receive a basic income to meet their basic needs, regardless of whether they are employed or not. The funding for UBI could come from the increased productivity and reduced costs of AI-powered systems.