Nouriel Roubini, a well-known scholar, likes to make provocative estimates. According to Roubini, who is dubbed” Dr. Doom,” the Artificial revolution will result in significant increases in success and customer prices, as well as job losses that could topple to 80 % in many industries.
Roubini predicts that governments will introduce universal basic incomes ( UBI ), unconditional payments that would replace social security, unemployment benefits, and other social benefits, to maintain economic activity and stop widespread social unrest. AI will become subject to a portion of the cost’s taxation.  ,
Roubini’s timeframe for the end of most labor – 20 times – is positive, but AI will eventually eliminate the need for most job as we know it. People will rather appearance for purpose-driven habits. The healthcare sector, which caters to mental, spiritual and physical animal health, could be the main beneficiary.
Amara’s laws
In the 1970s, American researcher and futurist Roy Amara made his famous statement about technological adaption that came to be known as Amara’s laws: “We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run.”
AI is a case in point. By the 1980s, scientists predicted that AI may exceed individuals in all areas of knowledge. By far more than half a decade, they were off the mark. By 2030, experts today forecast that AI will surpass individual features in the majority of fields.
On the other hand, present innovations show that AI, in combination with large-scale automation and robotics, is bringing us closer to Roubini’s projection: The end of almost all job that relies on regular, repetitive tasks. Advances in East Asia, and particularly China, offer a glimpse of the future.
More than half of the total industrial drones in China are near two million, or nearly half of it. Additionally, Foreign producers have created AI-controlled robots for a range of tasks, including adding and cleaning solar panels, raking up crops, and planting trees.
Chinese manufacturers of technology, batteries, solar panel, and container and logistics companies have reached technology rates of over 90 %. China’s latest electric vehicle ( EV ) factories have the capacity to turn out a car every 30 seconds.
Chinese EV manufacturer BYD recently installed 500 multitasking human robots that can do everything from sorting parts and using energy screwdrivers to carrying out visual quality inspections.
The supply chains and manufacturing processes are undergoing an ever-smaller increase in human work.
AI resurrending itself
AI’s influence will go far beyond increasing production and transportation. Few jobs will be safe, according to the most recent advancements in the creation of Large Language Models ( LLM) like China’s DeepSeek and ChatGPT.
LLMs may produce articles, create technical paperwork, review contracts, analyze clinical images and automated software testing. Facebook’s chairman, Mark Zuckerberg, told an interviewer last month that his business may start replacing software professionals with AI as early as this time.
This year, AI will be performing the work of mid-level engineers, according to Zuckerberg, who added that “we’ll get to the point where most of the script in our apps and the AI we create is really going to be written by AI engineers rather than people engineers.”
Abundance
Roubini adheres to the essay of revolutionary Peter Diamantis, co-author of the best book” Abundance: The Coming Is Better Than You Think”. We will soon be able to satisfy the fundamental requirements of every person on earth, including children and men, according to Diamantis. Everything is within our reach, and presence for all is within our reach.
Like Roubini, Diamantis believes that AI, technology, and different systems will be able to produce consumer products in virtually unlimited quantities, and at ever-decreasing value. Consumers will experience a lower cost of living as a result of the deflationary effect, but the challenge will be to keep up with demand, which necessitates addressing wealth inequality.
Wealth inequality in many countries, already at historic levels, will only increase unless mitigating measures are taken. So does Roubini’s claim that the enormous increase in wealth that will be created by AI can be financed by a guaranteed universal basic income ( UBI ) that is on the rise.
Aware of the potential social-economic impact of AI in the coming years, prominent tech industry leaders, including Elon Musk, Sam Altman of OpenAI, and Twitter co-founder Jack Dorsey, have voiced support for a UBI. Google, Apple and Cisco have even donated money to UBI pilot projects.
The launch of a UBI is a key factor, according to a study by the UNDP. If introduced too early, it could impact a country’s competitive strength.
Additionally, a UBI would need to be a component of a complete overhaul of the current social security net and the tax system.
Wellness for all
A world without work will mark a milestone in human history, regardless of whether it occurs sooner or later.
In the 20th century, machines reduced the economic value of our physical power. In the 21st century, AI will reduce the economic value of our professional knowledge, be it accountants, architects, or attorneys.
Most people believe that their identity is inextricably linked to their work or professional abilities. Work provides the satisfaction of accomplishment and has largely defined our social standing.
Deprived of the security of work and its accompanying status, people will seek new values and a new purpose-driven lifestyle. The wellness industry, catering to mental, spiritual and physical improvement, could be one of the primary beneficiaries.
The wellness sector can assist in reducing the social and psychological effects of a work-free world. It offers everything from community-based wellness experiences to group therapy, mindfulness training, and courses on integral thinking and resensitizing ourselves to nature.  ,
The wellness industry, which emerged in the 1970s, is expected to grow between 9 % and 12.5 % in the next decade, outpacing the overall economy. Although AI may also have an impact on the wellness sector, work that necessitates human compassion will be largely shielded from the job losses brought on by the AI revolution.
With the rise of AI, East Asia has a demographic reason to be anxious. In Japan, the median age is 49 years and rising. In 20 years, the ratio of non-working to non-working people will be close to 1 to 1. Both South Korea and China share comparable demographics.
Despite being the “oldest” region in the world, East Asia could become a trendsetter in the post-work era. The region produces the majority of the hardware needed for Industry 4.0 and is unaffected by existential concerns about AI. Moreover, China is integrating AI education into its primary and secondary school curricula.
China’s Ministry of Education issued guidelines in December of last year mandating that younger primary school students concentrate on learning about and experiencing AI technologies, while middle school and elementary school students are expected to learn and apply AI concepts.