The video discusses the impact of automation and artificial intelligence on the job market and society. It begins by noting that humans have always had to hunt or gather to survive, but over time, we've developed tools to make our work easier, from sticks to plows to tractors. This has led to a decrease in the need for physical labor, with modern agriculture requiring almost no one to make food.
The video then introduces the concept of mechanical muscles, which are stronger, more reliable, and tireless than human muscles. These mechanical muscles, or robots, are replacing human labor, allowing people to specialize and improving living standards. The video mentions the example of Baxter, a robot that can learn tasks by watching them, and is cheaper than the average annual salary of a human worker.
The video also discusses the concept of general-purpose computers, which are becoming more powerful and cheaper every year. It argues that this is the new kind of automation, and it's already beginning to replace jobs in various industries. The video mentions the example of self-driving cars, which are already working without human intervention.
The video then discusses the impact of automation on various professions, including lawyers, doctors, and creative workers. It argues that even creative jobs, which are often considered unique to humans, can be automated. The video ends by emphasizing that automation is inevitable and that we need to start thinking about what to do when large sections of the population become unemployable through no fault of their own.
1. Humans have traditionally used tools to make their work easier, from sticks to plows to tractors. This has led to modern agriculture where almost no one needs to make food, yet there is still abundance.
2. Mechanical muscles, stronger and more reliable than human muscles, are replacing human labor in various industries. This is part of an economic revolution.
3. Some people have specialized to be programmers and engineers, whose job is to build mechanical minds. This is similar to how mechanical muscles made human labor less in demand.
4. The robot Baxter is an example of a general-purpose robot, which can do any work within the reach of its arms. It is not pre-programmed for one specific job and can be taught to do anything by watching a human do it.
5. Baxter is not as smart as some other things, but it is smart enough to take over many low-skilled jobs.
6. Self-driving cars are not the future; they are here and they work. They have traveled hundreds of thousands of miles up and down the California coast and through cities without human intervention.
7. The transportation industry employs about 3 million people in the United States. The same thing is happening in many other industries, where robots are changing society.
8. Software bots are both intangible and way faster and cheaper than physical robots. Given that white-collar workers are more expensive and more numerous, the incentive to automate their work is greater than low-skilled work.
9. The stock market is no longer a human endeavor; it's mostly bots that taught themselves to trade stocks.
10. IBM has a bot named Watson, which is the best doctor in the world. It understands what people say in their own words and gives back accurate diagnoses.
11. The doctor bots can learn from the experience of every doctor bot, read the latest in medical research, and keep track of everything that happens to all their patients worldwide.
12. The music you're listening to was written by a bot named Emily Howell. She can write an infinite amount of new music all day for free, and people can't tell the difference between her and human composers when put to a blind test.
13. The robot revolution is different from previous economic revolutions. Horses aren't unemployed now because they got lazy as a species; they're unemployable. There's little work that a horse can do to pay for its housing in hay and many perfectly capable humans will find themselves the new horse.
14. The unemployment rate during the great depression was 25%. Today, 45% of the workforce is just what we've talked about today. The stuff that already works can push us over that number pretty soon.
15. This video isn't about how automation is bad; rather, it's about how automation is inevitable. It's a tool to produce abundance for little effort. We need to start thinking now about what to do when large sections of the population are unemployable through no fault of their own.