20230208 : economics of tomorrow's world

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Once in a while, I entertain myself interacting with chatGPT from open AI.

It has been a while - it doesn't allow me to login as it is always overloaded.

Today morning, I got an audience.

Couple of days back - somebody who I know had informed me that they were anaemic .

So I thought I'll ask it what would be good to eat. I asked a fairly loose question and it replied with some loose information. I realised this person does not have meat. So I changed the question to a more specific one. 
__________
Q> What vegetarian food can we eat to increase hemoglobin ?

I expected a vague answer like earlier. However, this is what I got:

A> To increase hemoglobin levels, you can eat foods rich in iron, vitamin B12, and folic acid. Some vegetarian options that are high in these nutrients include:

Iron: Spinach, kale, Swiss chard, collard greens, dried apricots, raisins, fortified cereals, legumes (lentils, chickpeas, beans), tofu, tempeh

Vitamin B12: Fortified plant-based milks and breakfast cereals, nutritional yeast

Folic Acid: Dark leafy greens, broccoli, asparagus, beets, lentils, chickpeas, avocado, oranges, and fortified bread and pasta.

Combining a source of vitamin C (such as citrus fruit or bell peppers) with your iron-rich foods can help improve the absorption of iron.
__________

Now I was taken aback.

It definitely is like asking a qualified dietitian with many years of experience.

That took 5 seconds btw!

I have been pondering since. What will happen to the dieticians out there? Why would someone want to study dietetics courses anymore..

Anything relying on information based knowledge is surely dead in tomorrow's world.

Big tech has certainly got a bit shaken by chatGPT. They are all feeling left behind.

Google recently announced their version of AI called 'bard'. It is not yet available for general public and they are conducting limited user trials.

According to them, the edge they have is currency of information. chatGPT's information is dated - upto 2011. That's an era old nowadays. Bard is supposed to give current information.

Hypothetically speaking, if I asked the same question to bard, it will not only give me a similar answer but also tell me where I can buy it close to home. It will also throw in some supplements for anemia and when to order from. I can certainly imagine if I gave it permission, 1 click later it will place the orders for me and where to deliver it.

The logistics companies are building on and increasing automation and robotics to increase productivity and efficiency.

Even in surgery, often they are relying on robotics for precision where the human hands are unable to.

That is tomorrow's world...

Now I get the economics and commercial value of these in isolation. It is a gold mine for businesses.

However, I struggle to understand the macroeconomics of tomorrow's world.

All the businesses have to make money. All the money has to be given to them by consumers - people have to spend basically. However, if more and more people are increasingly losing jobs to AI, robotics and automation in general, they have no jobs and no income to spend on these products and services. Who will pay for all these fantastic things!

I just don't get the economics of tomorrow's world.... 


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