Will A.I. Put Lawyers Out of Business?

[PHC1]

Originally Posted by 62caddy

If you're serious about what you say, you should dispose of all these conveniences and live by 19th century standards while taking comfort in the employment you have provided.




100% nonsense.

Whether Bill Gates, Jeff Bezo or Warren Buffet, or all three never existed, it would not have put one more nickel in the pocket of anybody, least of all a family living in extreme poverty overseas.

The overall standard of living and life expectancy of a low/modest income person in America is far higher than it was for royalty as little as a century ago or so.

Prosperity, technology and efficiency benefits everybody.

I have successfully opened and ran 3 businesses in my life and have provided employment for more than 150 employees with salaries ranging from $35k to $175k a year. I didn't need to employ them to wash my laundry, sweep my floor, etc nor did I have to give up on modern technological luxuries. I have also paid more than my share of taxes in the seven figures yearly for many years... That's more than Amazon paid which was $0. Silly me... should have tried to beat the system except that it doesn't work for the small business owner.

Warren Buffet hardly fits into this model since he is a financial investor and I am not sure how buying and selling stocks affects this topic directly or indirectly other than perhaps if he was to invest into a robotics/AI company along with many others.


As to Amazon... While I own Amazon shares (quite a bit in fact) and of course I would want them to "prosper", I am not a narrow minded hypocrite and am aware just how many small retail stores Amazon has put out of business (while allowing some to find traction on the Amazon platform to sell their goods). Net-Net affect remains to be seen but the retail sector has been definitely rocked by the Amazon giant.

Once again I do not see how replacing people at a pace that is in the forecast with robots and AI will improve anything other than putting further pressure on government to somehow bail out the largely obsolete and unemployable masses if this plays out the way it is being forecast.

In the end I guess our opinion and view is simply different so let's agree to disagree and hope for the best come the near future.

[Still-One]

Originally Posted by 62caddy

It has been estimated the average modern home would need a staff of 7 servants to equal the amount of labor saved by ordinary household appliances, nevermind the car in the driveway or your home entertainment electronics.

If you're serious about what you say, you should dispose of all these conveniences and live by 19th century standards while taking comfort in the employment you have provided.




100% nonsense.

Whether Bill Gates, Jeff Bezo or Warren Buffet, or all three never existed, it would not have put one more nickel in the pocket of anybody, least of all a family living in extreme poverty overseas.

The overall standard of living and life expectancy of a low/modest income person in America is far higher than it was for royalty as little as a century ago or so.

Prosperity, technology and efficiency benefits everybody.

Here is where I disagree at least a little bit.

There would be less money in the pockets of all of us who benefit from the equities we choose to invest in while benefiting those who need the manufacturing jobs that are being relocated to lower cost solutions. Our manufacturing plants are expected to compete globally when their rolled up costs include paying for current and legacy costs associated with retiree medial or pension costs that are often covered by the government in other industrialized countries.

-We pay our CEO's and their subordinates handsomely for sending jobs to Mexico, China, Vietnam, Malaysia etc.
-We pay these same people handsomely for not allowing individuals to work a 40 hour week in your local grocery store, big box store, McDonalds etc. We sure don't want individuals in the jobs to obtain medical coverage.
-We pay these people handsomely for having eliminated defined pension plans. We expect these McDonald's employees to put money away into a savings plan when they can't even get a full work week.

I don't have the answers but I sure have plenty of questions.

[PHC1]

Originally Posted by Still-One

Here is where I disagree at least a little bit.

There would be less money in the pockets of all of us who benefit from the equities we choose to invest in while benefiting those who need the manufacturing jobs that are being relocated to lower cost solutions. Our manufacturing plants are expected to compete globally when their rolled up costs include paying for current and legacy costs associated with retiree medial or pension costs that are often covered by the government in other industrialized countries.

-We pay our CEO's and their subordinates handsomely for sending jobs to Mexico, China, Vietnam, Malaysia etc.
-We pay these same people handsomely for not allowing individuals to work a 40 hour week in your local grocery store, big box store, McDonalds etc. We sure don't want individuals in the jobs to obtain medical coverage.
-We pay these people handsomely for having eliminated defined pension plans. We expect these McDonald's employees to put money away into a savings plan when they can't even get a full work week.

I don't have the answers but I sure have plenty of questions.

I guess one can say Robotics and AI are the ultimate tool of capitalism. No pension, no overtime, no health insurance, no sick time (other than occasional maintenance), no payroll tax, no medicare tax, no social security tax... The only question I have is, who will be able to afford their products in the end?

[Mikado463]

Norfolk Southern (NS) announced this week it plans to eliminate another 3000 jobs by 2021 and so it goes ............

[PHC1]

Originally Posted by Mikado463

Norfolk Southern (NS) announced this week it plans to eliminate another 3000 jobs by 2021 and so it goes ............

Is this due to automation of some sort?

[PHC1]

It is articles like these that make me question the absence of logic or perhaps the truth in journalism? China is ambitiously working towards automation that is supposed to create millions of jobs and in the same article it mentions how the move to high tech will reduce the workforce needed by cutting the workforce from 250 down to 100 or by 60% less workers on a factory floor as used in their example. Do these so called journalists even think about the nonsense they are repeating?? https://www.marketplace.org/2018/10/...nd-lots-robots

That's not to mention the ghost cities of China... They invest into building out cities which are mostly deserted... NO JOBS...

[Mikado463]

Originally Posted by PHC1

Is this due to automation of some sort?

Kind of Serge, in the railroad industry the Current trend is towards 'precision scheduled railroading' or PSR for short. Longer, faster, less stopping trains are all part of the equation. Consolidation of terminals combined with NS's announcement of moving their Corporate HQ from Norfolk to Atlanta by 2021.

[PHC1]

Originally Posted by Mikado463

Kind of Serge, in the railroad industry the Current trend is towards 'precision scheduled railroading' or PSR for short. Longer, faster, less stopping trains are all part of the equation. Consolidation of terminals combined with NS's announcement of moving their Corporate HQ from Norfolk to Atlanta by 2021.

Autonomy will eventually also replace all commercial drivers, pilots, captains, etc...

[62caddy]

Labor saving progress has been with us for thousands of years, the positive results of which are incalculable.

Why, all of the sudden AI should be any different is beyond me.

[PHC1]

Originally Posted by 62caddy

Labor saving progress has been with us for thousands of years, the positive results of which are incalculable.

Why, all of the sudden AI should be any different is beyond me.

Within the core of your question lies the answer. Key words are "labor saving". Throughout human history we have always looked for ways to replace heavy and labor intensive processes from the manufacturing. Never in the human history have we made attempts at replacing "intellect" until very recently. Starting with computers which in turn turned into AI which in turn will replace all intellect. We will not be able to compete with it on any meaningful level given enough time and mature enough algorithms. As it applies to lawyers as the original topic, well, they have never held anything heavier than a briefcase in their hands throughout their careers and who would have thought their jobs would be in jeopardy. Of course this applies to every profession as there are no boundaries where AI and robots will not prove superior, including human relationships on a physical level even in the privacy of the bedroom... Humanity is doomed on many levels.