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The fact is whether you like it or not, AI will trigger a economic collapse due to the decrease in total purchasing power, job losses and the crime which normally follows mass unemployment. Most only focus on the potential destructive nature of AI or the propaganda use of, or the possibility that AI can be come a god to those who worship science and technology, very few ever discuses the potential economic impact of AI and automated systems.

Example: 1000 robots and or automated systems will take the jobs of 1000 people but will only create 3 new jobs. These 3 jobs will be higher paying jobs, but it came at the cost of 997 other jobs. In time the systems will fix themselves. It is very clear that this is a recipe for mass unemployment and poverty. In time AI and automated systems will acquire the resources needed to maintain them, manufacture the parts and in time even fit the parts themselves, with no human interaction, and zero jobs. Why would parents send their children to school if no jobs are available, how would people take part in the economy if they have no income to spend, how would business even exist without paying customers?

There are only 2 possible solutions: (1) (Not Recommended) Heavy tax on business so that the government can pay the citizens, to spend money at the businesses. However there will be a lot of waste in such a system and businesses still need to pay for updates, to software and the material used to build and maintain the AI and automated systems which means they will have less money to pay toward tax which leads to very low incomes. This in return will result in a weak economy.

(2) The government can limit the legal use of AI and automated systems to ensure employment and can pass laws for each business sector and require that they pay no less than a specific number of people according to turnover made and the business sector they fall under. This should be well regulated to ensure, that businesses do not pay salaries to the same people but different people. This will also, over some time, realize Nicola Tesla’s vision, that AI will do all the work while you can sit at home pursuing your hobbies. This will bring the question into play, why get an education if there are no jobs available? To ensure that the population continues their basic education, a law can be passed, stating that you can only become a beneficiary of an employer if you have a grade 10 education. We recommend this education system

Jobs and employment

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