AI Plus Capitalism a Recipe for Mass Unemployment?
The Socialist Program with Brian Becker
The Socialist Program
4.7 • 587 Ratings
🗓️ 17 January 2024
⏱️ 23 minutes
🧾️ Download transcript
Summary
On today's episode Walter Smolarek and Prof. Richard Wolff discuss the dramatic new report from the IMF showing that 40 percent of all jobs in the world could be impacted by the introduction of Artificial Intelligence. Fears are deepening about mass unemployment, exploding inequality, and other potential consequences of the integration of this new technology into the world capitalist system.
Professor Richard Wolff is an author & co-founder of the organization Democracy at Work. You can find his work at rdwolff.com.
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Transcript
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| 0:00.0 | The IMF has come out with a dramatic new report showing that 40% of all jobs of the world |
| 0:07.4 | could be impacted by the introduction of artificial intelligence. |
| 0:11.6 | Fears are deepening about mass unemployment, exploding inequality, and other potential consequences |
| 0:16.8 | of the integration of this new technology into the world capitalist system. We need a new system. We need a new society. We need to demand that which may have sounded |
| 0:27.6 | impossible even a few weeks ago, but is not only realizable, but an imperative necessity. We are very excited to have Professor Richard Wolfe join us for a regular weekly segment |
| 1:00.9 | where we discuss the biggest stories relating to the economy, the state of the working class, |
| 1:05.1 | and the crimes of big business. |
| 1:07.1 | I'm Walter Smolerick, filling in for Brian Beck. |
| 1:09.4 | The Socialist Program brings new content several days a week thanks to the support of our patrons |
| 1:13.6 | at patreon.com slash the Socialist Program. |
| 1:17.3 | We appreciate all of your support and encourage you to become a patron today if you enjoy listening |
| 1:21.6 | to the show. |
| 1:23.0 | Richard Wolfe is the co-founder of the organization Democracy at Work and the author of many |
| 1:27.2 | books, the latest being The Sickness is the System-founder of the organization Democracy at Work and the author of many books, |
| 1:27.9 | the latest being The Sickness is the System. When Capitalism fails to save us from pandemics for |
| 1:33.0 | itself, you can check out all of his work at rd.wolf.com. |
| 1:39.3 | So Professor Wolfe, this new report from the International Monetary Fund was time to coincide with the Davos Summit in Switzerland. |
| 1:47.4 | That's the annual gathering of CEOs and investors and bankers and mainstream economists and politicians who get together to talk about the big issues facing capitalism. |
| 2:00.7 | With this report, in particular, |
| 2:02.2 | they're underscoring the potential impact of artificial intelligence on the labor market, on the job |
| 2:07.8 | market. The IMF estimates that across the world, about 40% of jobs could be impacted by the |
| 2:13.8 | introduction of AI. That includes 60% of jobs in the advanced capitalist countries like the United States, |
... |
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