Comment by adam_arthur

It seems obvious that labor displacement due to AI will create labor surpluses in existing fields.

Which will feel quite bad for many of us in the present, but net-net be good for society in the long run.

Wages will go down, but cost of goods and services will decline even more.

Markets will be more competitive than ever, which limits the moat/margin capability of many businesses.

It's only really particularly bad for those earning very high wages where there likely won't be any way to materially fill the gap.