Will A.I. Put Lawyers Out of Business?

[PHC1]

Originally Posted by 62caddy

I cannot agree that taxing efficiency makes sense under any circumstances.

Efficiency as in "more profit" for the shareholders? Yes, always a good thing except when there is hardly anyone left to be able to afford the products they make since there are no jobs.... Makes sense.

[Still-One]

Originally Posted by Bar81

. Stay cracking wise re attorneys while you miss the big picture.

Another point of concern is this:

https://www.theguardian.com/inequali...worst-impulses

I'm sorry but I am not familiar with the colloquialism you used here. Just to be clear the attorneys and type of law I find offensive is Personal Injury. I my opinion there is no place in our society for this practice. In general I respect, have used and worked with many attorneys over the years.

[PHC1]

Originally Posted by Still-One

I'm sorry but I am not familiar with the colloquialism you used here. Just to be clear the attorneys and type of law I find offensive is Personal Injury. I my opinion there is no place in our society for this practice. In general I respect, have used and worked with many attorneys over the years.

I agree.. Not when there is a whole system based on defrauding the system such as a bunch of people piled up in one car gets rear ended by another "friend" and then sue his insurance company and split the proceeds for their pain and suffering.... Yep, it goes on in the big Apple all the time, it's a whole business scam based on the "no fault" policy... Not only that but they split profits with Radiologists who "mark up" their MRI's and the clinics which treat them for their pain and suffering... HELLO??

New York is one of the 12 states that have a No-Fault coverage. If you are injured in a crash in New York, the No-Fault coverage you receive comes from the vehicle you drove, rode in, were hit by, or came into contact with.

[62caddy]

Originally Posted by PHC1

Efficiency as in "more profit" for the shareholders? Yes, always a good thing except when there is hardly anyone left to be able to afford the products they make since there are no jobs.... Makes sense.

With all due respect Serge, that is nonsense. If your argument were to be carried home, the higher cost would be passed onto the consumer resulting in lower sales to the manufacturer resulting in higher employment overall.

Would that make sense?

[PHC1]

Originally Posted by 62caddy

With all due respect Serge, that is nonsense. If your argument were to be carried home, the higher cost would be passed onto the consumer resulting in lower sales to the manufacturer resulting in higher employment overall.

Would that make sense?

Likewise, with all due respect, you are comparing apples to oranges... Comparing higher cost of goods in a healthy economy where unemployment is low to a society largely displaced out of work due to automation and AI taking over are two very different things. The brilliant minds that are much more in the know than you or I are about the threat are ringing alarm bells already. A government stipend or today’s welfare is a very good example of just how much one can afford under such conditions. In the US, 38% of jobs are under direct threat in the next decade or two at most from automation/AI. Half the world’s population is already living in poverty on less than $3 a day, so how can anything get better when people are forced out of the job market in more developed countries?

[62caddy]

Originally Posted by PHC1

Likewise, with all due respect, you are comparing apples to oranges... Comparing higher cost of goods in a healthy economy where unemployment is low to a society largely displaced out of work due to automation and AI taking over are two very different things. The brilliant minds that are much more in the know than you or I are about the threat are ringing alarm bells already.

Just keep on taxing and you will see what the cost to employment will be.

You have a lot more faith in the so-called "brilliant minds" than I do.

[PHC1]

There are plenty of good articles on the topic of UBI or universal basic income to compensate for the job displacement. The likes of Elon Musk and Zuckerberg think it will be necessary and the only way out. A few countries are actually running trials of the concept with various results so far. I’m no economist but our country with a $21 Trillion debt, most states running a budget deficit as it is, burdened with a UBI on top of it all with say another 30-40% of the population unemployed??? That economic model is a complete mystery to me...

[62caddy]

At one time I'm sure there were those saying the same thing about the cotton gin, farm tractors and countless other labor saving manufacturing methods...

The national debt is an entirely separate matter.

[Formerly YB-2]

Have never been a big fan of professional sports. But, with all the idle time that AI & automation is bringing at an ever accelerating pace we (that is the global we) need something to occupy us. Sports may be the answer (along with the UBI, etc.). Idle hands tend to be mischievious hands, unfortunately. Think unemployment and said 'idle time' will be the greatest challenge of the nearer-term future (hopefully, after I'm gone - it won't be pretty at the start).

[clpetersen]

Some are doing unexpectedly well due to mad dash to AI riches:

Anguilla, population 14,764; an eastern Caribbean island.

Turns out, they have the internet domain of .ai

So, thousands and thousands are now paying to get the .ai domain attached to their name.

I checked, and "I'm_sorry_Dave.ai" is still available....