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Everything that can be digitized will be done by AI. Information jobs, accountants, researchers, programmers, teachers, writing books, coaches, film making. Maybe even politicians. An AI can put a proposal out and send it to 500 million people and the people send back their text about what they think and the AI can summarize this, take a decision based on the 500 million answers in just 1 hour. Politicians can’t do this.
The market cap of AI companies will grow and the market cap of those other industries will be sucked away.
Just like the internet sucked away other industries. Like whatsapp sucked away the market cap of the global telcos who delivered international calls.
Banks will also be sucked away. So our fiat money will be created by AI. If you need a mortgage an AI can decide on your application by looking at the house, checking its value compared to others.
Inequality will be massive. If the wealth transfer from all those sectors to the AI sector is not taxed and transfered to the people.
Prices will be lower. The productivity will be sky high through AI. Foodsystems will also be improved. There will be plenty food for all. All systems will become more efficient.
The concept of labour will disappear. Capital - AI - will replace labour everywhere it can.
The things that cannot be made, like Bitcoins, will be scarce. Land will be scarce.
In VR all these scarce things will be abundant.
There will be a cry for taxes on AI companies. Jobs will be lost.
People will have time to spend time with their kids, do what they like.
When you meet a human in real life you will enjoy her/his company. Because that will be special.