Labour cost is between 40-60% of total business costs.
With the amount of AI investment, AI will only win if it decimates employment and the business cost associated with it, driving up business profits.
Productivity will increase, but to what benefit? machines don’t buy consumer items, and the increased unemployed or underemployed won’t have enough discretionary budget to either.
With the amount of AI investment, AI will only win if it decimates employment and the business cost associated with it, driving up business profits.
Productivity will increase, but to what benefit? machines don’t buy consumer items, and the increased unemployed or underemployed won’t have enough discretionary budget to either.