What are the potential impacts of AI on jobs and the economy in India?

The idea that AI will replace most white-collar jobs doesn’t take into account that not all work requires high-level intelligence. Sure, we can automate tasks, but many roles still need a human touch. Plus, some regions may find that AI brings new opportunities, particularly if governments implement effective social safety nets.

Your scenario resonates with the feedback loops I’ve been exploring as well. If a large percentage of the workforce becomes unemployable, we could see a crisis unlike anything before. Those individuals won’t just be jobless; they would face significant hardship affecting their ability to repay debts. Politically, the pressure on governments will be immense. The demands from people struggling to survive could result in drastic measures, like promises of UBI, but it's a tricky situation.

Before predicting too much, we should consider how deep of a depression we might face. The first Great Depression occurred amid significant productivity gains. The impact of monetary policy and debt levels will likely play a huge role in how things unfold, so the consequences could be severe if we’re not careful.

You’re definitely on to something with the economic changes. One thing to consider is how drastically productivity can alter the landscape. If companies can lower costs significantly due to AI, we might actually face deflation instead of inflation. However, that won’t matter much if people don’t have incomes. Universal Basic Income (UBI) could be a potential solution, but it might take a while for that to come into play. History shows us that humanity has navigated through tough transitions before, though, from agricultural to industrial revolutions.

This discussion makes me consider alternative lifestyles. Maybe I should invest in growing my own food and becoming less dependent on a highly automated economy. It’s a practical response to uncertain job prospects!