DBKautz

DBKautz t1_j5nesg8 wrote

Independent of the current (and future) developments in AI, it's a good idea to create several independent income streams. This way, if one of them collapses, you don't instantly drop to zero income. There's a lot of good advice on the internet on how to do that.

Not a solution to all AI woes, but maybe a mitigation for some time.

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DBKautz t1_j2d5sec wrote

I had my "wow, this is happening"-moment ~8 years ago. I expect economic turmoil for the transition phase, here's my plan I came up with back then, hope it helps someone:

  • Changed my career path to IT governance. Smaller risk to be automated right at the beginning and gives me insight into IT developments on the one hand and into what happens in my field strategically on the other hand. Also gives me some influence in the development.
  • I kept my reoccuring monthly expenses low (~ one third of income) and set up a rainy day-fund of liquidity. I don't want to be cornered financially by running out of money immediately in economic trouble.
  • I invest a good part of my income (but don't forget to live!) about ~50% in dividend stocks/ETFs to create a second income stream which should make me less dependent on my job as time goes by. I invest the other ~50% into stocks/ETFs that could more directly benefit from AI / own the AI. I want to have a stake in AI development, better insights / influence and benefit from it, if possible.
  • Networking a lot, in my career as well as outside of it. I started by going to technology-related events and discussions in my city and meeting people. Kept in touch with them throughout Covid. I also take part in online discussions and virtual meetings of organisations that deal with AI. Takes a lot of time in addition to the job, but makes me get new information comparatively fast. It also comes with job opportunities, a good backup for if/when my current career gets disrupted.
  • And of course: health/fitness. Nobody wants to die just before LEV is reached. ;-)

Nothing of this is a catch-all solution to the likely challenges that we will IMHO see in the years leading up to a possible singularity. Overall, nobody knows what's going to happen, but I hope to mitigate risks and improve my chances to getting my family and myself through this with less grey hair than otherwise.

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DBKautz t1_j2a0eq3 wrote

I think it will be necessary in the medium to long term, but it will be very difficult to implement (and I don't mean for political reasons only).

Currently, we should intensively test all kinds of different UBI models to figure out what works and what doesn't. It is too early to roll out UBI yet, because for example

  • "The machines" are not yet able to perform all tasks that humans wouldn't do in case of UBI
  • We have just so much work to do to set the conditions for our future right. The biggest part of the world is technologically decades behind what is already possible and that also limits very much our potential to automate stuff (you can't use AI for pen-and-paper bureaucracy for example). We need all hands on deck for the transition, so to speak.

Concerning what works / doesn't work, we need to figure out a kind of UBI that

  • Still ensures that tasks that need to be done get done / doesn't totally disincentivize "work" / economic activity
  • doesn't lead to everyone just "lying flat" and civilization slowly rotting to death
  • doesn't cause runaway inflation . I guess, we will need to find a way to make the amount of UBI dependent on productivity or sth like that.
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DBKautz t1_j1uuvoz wrote

Flexible point-to-point travel will in many settings always be faster than being dependent on fixed-schedule, fixed route travel (and - in case of personal cars - has the upside of being able to chose whom you travel with).

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