Navigating the Future: AI, Universal Basic Income, and the Great Reset
Garen (Karén) Mkrtchyan
Empowering Business Success by Driving Growth Strategies & Maximizing Efficiency for Large Regional Companies in the Middle East | HEC Paris EMBA '22
In recent times, I have dedicated a significant amount of thought and substantial time to analyzing the transformative developments around Artificial Intelligence (AI), the Universal Basic Income (UBI) experiment, and the concept of the Great Reset. These are not mere buzzwords but fundamental shifts with profound implications for our future. Here's a deep dive into these topics, reflecting on both their challenges and opportunities.
The AI Revolution: A Double-Edged Sword
The rapid advancement of AI is a topic that has intrigued many, including myself. AI promises to revolutionize industries, enhance efficiencies, and create new opportunities. However, it also poses significant challenges, particularly in terms of workforce displacement and ethical considerations.
Positive impacts: AI has already begun to transform various important sectors positively. In healthcare, AI algorithms are improving diagnostic accuracy and patient outcomes. In finance, AI-driven analytics are enhancing risk management and fraud detection”. Moreover, AI is creating entirely new job categories that didn’t exist a decade ago, such as data scientists and AI ethicists (a great deal of consideration needs to be given to the latter).
A notable example is the collaboration between AI and human creativity in the art world. AI-generated art is gaining popularity and even being sold at prestigious auctions.This fusion of technology and creativity exemplifies the potential for AI to augment human capabilities rather than merely replacing them - We will revisit this topic multiple times throughout the article.
The Universal Basic Income Experiment
The concept of UBI has been a topic of intense debate, particularly in the context of AI-driven automation. Sam Altman, CEO of OpenAI , has been at the forefront of this discussion, conducting a comprehensive experiment to explore the viability of UBI.
Insights from the UBI Experiment
Over the past eight years, Altman’s initiative has provided $45 million to thousands of people across US, aiming to understand the impact of a guaranteed income on individuals' lives. The initial findings indicate that recipients primarily used the funds for basic needs, medical care, and supporting others, though this isn’t particularly compelling.
However, the UBI experiment also revealed nuances. While some participants reported increased well-being and financial stability, others felt that the stipend was insufficient to make a significant difference in their long-term economic prospects. This mixed outcome suggests that while UBI can alleviate immediate financial pressures, it may not be a panacea for deeper systemic issues.
The Great Reset: A Vision for a Post-Pandemic World
The "Great Reset" emerged as a concept during the COVID-19 pandemic, proposed by the World Economic Forum ’s Klaus Schwab. It envisions a world that is "greener, smarter, and fairer," addressing global challenges through five key priorities: social inclusion, global warming, digitalization, long-term capitalism, and global cooperation”.
The Imperative of Continuous Education and Training
As we navigate this complex landscape, continuous education and training become crucial. The World Economic Forum highlights the need for re-skilling, with a focus on analytical thinking, AI and big data, and creative thinking (full report):
This chart underscores the importance of reskilling strategies to bridge the skills gap and prepare the workforce for future challenges.
By 2027, AI and big data are expected to be among the top skills required by employers, emphasizing the need for ongoing learning and adaptation.
The estimated percentage of the workforce that will need to upskill to remain relevant by 2027 is 61%.
This includes:
- 39% who will need training before 2027.
- 12% who will need training that will not become accessible until 2027.
- 10% who will require training that is not accessible for the foreseeable future, likely leaving their skills gaps unclosed beyond 2027.
Ethical Considerations and Potential Regulations
The ethical implications of AI cannot be overlooked. Issues such as data privacy, algorithmic bias, and the potential for misuse require robust regulatory frameworks. Governments and organizations must collaborate to establish guidelines that ensure the responsible development and deployment of AI technologies.
A Call to Action
The rapid advancements in AI, the exploration of UBI, and the ambitious vision of the Great Reset present both opportunities and challenges. As individuals, organizations, and policymakers, we must align our efforts to navigate this transformative period effectively. The future will undoubtedly bring more iterations of GPTs and other AI technologies into the mainstream. We must act now to embrace these impending changes and ensure that the benefits are equitably distributed.
In my opinion, alignment of efforts is crucial—from individuals to employers, governments, and creators of new tech. Innovations.
In the next one or two years, proactive steps are essential to embrace the upcoming changes. Remaining agile and prepared to adapt to emerging developments will become the new normal. While the exact nature of future tech’s, including humanoid robots (- fresh release) and advanced AI systems, remains uncertain, one thing is clear:
the future will diverge significantly from past projections.
Embrace resilience and adaptability as essential components of navigating this evolving landscape.
Sources:
Humanoid robots soon be available - Fresh release, recommended
Division Manager Real Estate at Ali Bin Ali Group
7 个月Karen (Garen) Mkrtchyan excellent insight. UBI is a fascinating concept. We all have different ideas of “basic” but I think to know you have your daily entry level needs covered would be liberating. I think the reluctance to chase a dream , develop an idea , embrace a new way to work or new tech is inhibited by the risk of lossing those basics. The UBI concept could theoretically encourage economic diversity and drive inovation. I have read recently of AI being used for rapid , accurate, analysis of medical imaging. Any reduction in time , diagnosis and faster treatment must be a great thing. I would imagine in time it would free up Consultants and Drs to better effect. As with all things the path we start out on with all the above will change and develop based on experience but for sure its an intersting era.
Marketing Manager | Certified Marketing Communications Manager (CMCM)
7 个月Agree 100%! I don't know who originally said "AI will not replace us but people using AI will ". That's the reality, and it is going to change more than we think, it's going to change people's behavior, values, habits, etc and as you said we must align our efforts to navigate this transformative period effectively.
Business Management
7 个月Very interesting article!