Machine Learning and Artificial Intelligence is pretty much the talk of the planet. We hear talks and predictions like Job Losses, non-comparable Efficiency with humans, Universal Basic Income for humanity to sustain, Companies getting massive funding in the name of AI/ML (Machine learning and Artificial Intelligence implementations to solve problems or generating fancy outputs) etc..

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Do you think we have heard all this before? during the dotcom bubble, any tech company that listed on exchange was making mad money due to oversubscription or high demand in market. It is safe to say, we didn't know the potential of Internet, and the investments were made simply because everyone knew the buzzwords and knew little to very little about the technology It is pretty much the same with AI and Startup investing these days. 

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I cannot help but think of one fundamental problem with doomsday theory of all job-losses. Let us talk about this with an example.

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Companies want to improve efficiency and output/quality by firing employees and using Machines to do the work. Companies make products and services for consumers. Who are the consumers? Yes, the very people who are working and having Jobs. By this theory, job losses will reduce the consumers drastically, then who are these companies going to sell their products to? Machines? i doubt that. 

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Another counter to this question is the UBI (Universal Basic Income). But, this is just "Basic" income, I doubt that it will allow people to buy luxuries of life. This demand/supply and Jobs is a thing of full cycle. the very companies that are predicted to kill all jobs, will be shut down due to no demand, simply because of very less people with pockets deep enough to buy things other than what are basic necessities of life.

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The mantra is, to not be afraid of this change, embrace it and be ready to learn and upgrade yourself. That is the best we can do. If AI is going to help drastically, it may very well make us take a bigger leap as a planetary civilization. It may help solve problems of Climate change (make the planet more habitable), Space exploration (make us inter planetary species), Genetics and genomics (make us genetically more superior and resistant), Neuroscience (Understand Human brain and its problems/enhancements better), Agriculture (Generate more food in lesser acres, Material science (create superiors materials with good tensile strength/conductivity/malleability/softness etc), Quantum computing (improve computational speed with unlimited planetary or Inter-Planetary connectivity)

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What are your thoughts? Be ready to embrace the change? or be scared to loose everything? When was the world ever so binary?

 

The answer is, "It Never Was", and if it ever goes Binary, we will anyways never have the power to control anything that unfolds in binaries. So just prepare yourselves for the ride.

India and her Stories are received as one would imagine, i.e with a spectrum of emotions. Some ridicule it, some want to know more, some just don't care and some get really fascinated.

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Historically, and culturally, India has been a society where, the rulers wield tangible power and own assets, but they ruled by taking advices and at times by permission of their educated elite members (the Gurus or Brahmins/Advisors, basically educated elite who have knowledge of scriptures). The King was not the all powerful entity, and he is to a great extent influenced by a person, who has no material desires, who puts the welfare of knowledge/state/people first. This fact itself puts Indian decision making in a different league of its own. Kings/Businesses/People were advised to make "Gupt Daan" i.e secret donations for welfare from their earnings. These donations should never be revealed for publicity, to maintain their true purpose of goodwill.

 

Fast forward to today, our elders advise us to donate a certain part of salary/earnings regularly, and there are many kids that donate their entire first salary to needy. These are the entrepreneurs of tomorrow. We learn from examples of largest business houses like Tatas and Premjis, who regularly donate a good part of their profits every year for charity. They are what young entrepreneurs aspire to become, or have great respect for.

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As with everything else, ethics too erode/transform at a slow pace, but these traits will still remain for a long time to come, because the roles of Gurus have now been replaced by Parents or Grand-Parents, and this guidance is going to continue for at-lest 1 or 2 generations. we're taught compassion towards the needy and to always think about them while enjoying all comforts in life.

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Now, since we live in a society, there is always a relatively bad batch, which will always exist, and has always existed historically (Like Kauravas in Mahabharat, who ignored all wisdom from their advisors/teachers), and ultimately become examples for future generations of "what not to do".

We will have to ignore the noise generated by them, and focus on a different and unique flavor of Capitalism the world is about to witness with India's rise. 

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India is coming! with an overall goodness at heart and a will to help the world. Come along and join the change!

Frankly to this day, a whole lot of people have not understood the great question "Why does any Crypto have value?".

 

Any physical thing with low supply can have value, as it can be used as an art it may have rare useful properties or it may simply be something of display or show-off.

 

How does just having a code in limited quantity have value? 

It is not really solving a real world problem. It looks like it has value, because people are ready to trade it for real money. That, will last only till it lasts, as unlike fiat currency, no one trustworthy body is backing it but the public that's trading it.

 

Most people in India are trading it because they know people made mad money from it in the past. People are investing in it with an understanding that they might lose it all or make fortune and it's a gamble.

 

Stocks too are a gamble, but one can still find some sense in its value and try to investigate or perform fundamental analysis of the parent company and it's financials, but crypto is still not answering the basic question "why does it have value?"

 

It has value only because you're able to exchange it with a mad mad amount Fiat currency! What an irony!!! It has values because of the thing it is trying to refute!!!

There is a growing excitement and concern about the rise of Artificial Intelligence. And the topic rightly deserves this kind of attention.

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Truth be told, Artificial intelligence will definitely have a significant impact on the future of jobs. While there is no doubt that AI will create new job opportunities, it is also expected to replace some existing jobs.

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One of the biggest impacts of AI on jobs is automation. Many routine and repetitive tasks such as data entry, book-keeping, reconciliation and basic customer service, can be automated using AI, or even content generation or researching a large content.

 

This could lead to job losses in certain industries, particularly those that rely heavily on manual labor or tasks that involve rearranging or reconciling content.

However, AI is also expected to create new job opportunities in direct areas that involve AI itself such as machine learning, data analysis, and programming. As AI becomes more prevalent, there will be a growing need for skilled workers who can take advantage of AI in research oriented tasks where they can use AI like a supercharged assistant.

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Moreover, AI could also lead to new industries and job roles that we cannot currently imagine, as it has the potential to transform fields such as healthcare, transportation, and entertainment. 

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Imagine examples like an AI assistant helping to find out how to control Nuclear-Fusion, helping the Astronauts in deep space exploration, helping in medical field in making the process of identifying medicines for pandemics quickly or AI helping to create new stronger alloys and fabrics based on it's material study.

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The possibilities are endless. But, so are the dangers if AI is not regulated or controlled. Self aware AI is already being discussed as a potential threat, and frankly we do not have a clue about how to deal with it if one day it decides to go "Ultron" on us. Because we do not have the avengers to save us!

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Overall, the impact of AI on humanity has the power to transform it. what direction this takes, only time will tell. but major shifts in our personal and social lives are shaping up already. The rate of change was always exponential but the tangent of that chart has started making significant gains here onwards.

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Every year will be a year of more technological innovations going forward.

Let us start this with a set of basic questions (assuming we're  naive to economics and finance).

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Would you like to live in a country where no one is well off and that has lack of growth opportunities?, but the govt will provide you with enough so that you can survive. Whether you're a sloth or an intelligent sharp man, there won't be much of a difference in both your lives, as too much Money with anyone is "Evil"

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OR would you rather prefer a country, where if you're ready to put in the effort and hours in learning, thereby becoming talented and skilled to solve problems, where you could start and grow a business and provide jobs (obviously if the business succeeds, you'll be much better paid than your employees). Your employees could access a decent life for their family (but not as good as you). Obviously, what we compared here are Capitalism and what some people believe socialism is (But it's not really that in it's entirety).

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Now just think, Is Money a bad thing? Is it money that corrupts people?, then what would the world look like where there is no Money? Will people become nice to each other? Our emotions of greed, aggression and their instinct to survive will disappear?

The Answer is NO. Money in a regulated market with Democratic Governments, is a means to good dignified life. BUT, like everything else in life, this system is not perfect, and it keeps hitting roadblocks and adds an update after each roadblock.

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It's not the Money that's evil, it's humans and their thought process that labels material things as a source of corruption. Money is just the scapegoat of our choice.