 Hi everyone, it's MJ the fellow Actree and in this video, we're going to be talking about how AI might make money Irrelevant so I haven't made a video on this channel in a long time In fact, I actually set up this whole thing to record a quick little greeting for a subscriber Who's getting married in a few days and I thought you know, I've got the When it says set up, I've literally just got the app open that records videos Like why don't we make a video for for this channel because as some of you know I've been making a whole bunch of videos for another channel of mine Which is called Bible Intelligence by MJ and we just hit a hundred thousand subscribers there And it's a channel where I've been using artificial intelligence To just learn and teach people about the Bible and some really really cool stuff there So go check it check it out if you haven't already But I thought let me maybe talk a little bit more about AI on this channel I know we've talked about it before but I've been up playing with AI for the past six months So I have to really hope for one It's it's really scary seeing how quickly this thing is progressing and why I say scary It's because it's kind of making me a little bit Irrelevant and I guess a lot of us have this feeling that our jobs are kind of at risk from from an AI's point of view and Collectively, I think that's a good thing. I actually don't think jobs are good You know, they're I mean jobs are tasks that people don't want to do and have to be reimbursed to do I mean if jobs were always fine and always grand then there wouldn't be a salary to entice us to do it So yes, I know some jobs are great and and meaningful But for the large extent of it, we all have certain parts of our jobs that we don't enjoy So I think it's a good thing that AI is going to destroy jobs and What I'm saying is that in the future Maybe that's for a time for another video or you know, who knows we might go for a long one on this one We can talk about what are humans going to do once the AI is doing all of the jobs And I guess it's connected to this video where I want to talk about how Money is going to become irrelevant. Thanks to to AI I mean just the thing with with jobs before we move on to money and This is where I'm quite glad that I'm Being a little bit more of an entrepreneur and a consultant or or working for my own time And that is a potential risk for for those of you who may find yourself as employees Is that as the AI technology improves more is actually going to be expected of you So your output at work is expected to increase as the AI technology Improves now that's going to be a bad thing because as your output becomes more and more, you know efficient and you get more stuff done Companies aren't going to be needing as many employees as they need it before and therefore They are going to be layoffs and when they come to the layoffs They're not just going to say oh, we're gonna fire Let's say it's a team of ten and you know AI's doubled the workload or doubled the the work output They're not going to say oh We're gonna fire five and keep five they might play a game and say hey Which five of you needs this job the most or is the most desperate for the salary and so you might find that Not only does your work double But the amount that you're getting paid or compensated for is going to reduce as now you have ten people fighting over these five jobs and You know supply and demand some people are going to come in and say you know I'll work for a lower amount just to kind of keep that that salary paycheck coming in and I think that's going to be you know Well AI is destroying jobs and as we're going to talk about in this video destroying money Like I say the end goal the end is going to be a utopia a paradise It's going to be lovely and beneficial for all mankind But the road that we're going to take to get there It's going to be a little bit bumpy some people are going to be left behind and it's going to be yeah Like I say a bumpy bumpy road So it's worth thinking about this being mindful and especially as an act tree You know thinking along your head thinking of the risks that lie before us I mean we want to just think about risks not just market credit mortality Operational but also systemic risks that face, you know society and ourselves So if you are working for a company Maybe the best thing to do is to stay on on top of the AI trends so that if they do start laying off people They're not going to lay off the person who knows how to use the AI and that's why I think being an AI Handler is one of the best things you can do and the way I like to learn is by playing with the technology I believe technology tends to be a toy before it's a tool and that's the best way to learn something to treat it as a toy Before you can use it effectively as a tool So if you haven't gotten chat GPT if you haven't got on mid-journey if you haven't started using 11 labs If you haven't started using kyber, you know, there's a whole bunch of these things I really want to urge all of my subscribers all of the act trees out there to start learning the technology and Try and see like hey Get chat GPT to write some art scripts see if can assist you in building a model See if you can even use it to develop a model from from scratch because like I said, that's where the future is is heading So though that said and the fact that jobs are becoming irrelevant I think money is also going to become irrelevant now I've said this in a few of my other videos before so if you've heard the story before feel free to maybe Skip a minute or two ahead, but the way I see money is it's not this, you know mathematical financial Thing that needs a formula and there's the different currencies No, I said I see money very much as a social tool to help us keep track of who in our society Needs to be reimbursed and rewarded for the contribution that they've made of course, that's That's how money should be with inheritance and other shady deals That meanings become a little bit distorted and money's now become a symbol of power hence Because of this perversion of money from a stupid true intent I feel like in that AI future we are going to get rid of it and replace it with a Better system. I'm gonna chat about that better system. Let's maybe go, you know all the way back to the beginning of time or beginning of of civilization and Anthropologists seem to suggest with the latest research that there wasn't necessarily a lot of bartering Within communities bartering happened amongst communities, but within communities. There was this IOU system So somebody fished water today They could share in the hunt tomorrow and then someone who shared in the hunt today Might build houses for the people tomorrow, you know, there was a little bit of a you know You don't have to meet the demand and have that double wand at that specific moment in time It was kind of like okay as long as you're pulling your weight in society You can enjoy the benefits of society. So we relied on our memory Of course Communities started fighting with each other or challenging each other for sacred resources access to water land all these kind of things And so the bigger your society not only the more protected you were but the more likely you were to take over Another society so societies had an incentive to get big very very big But the human mind is limited from a memory point of view We now really start to struggle to remember who's done what once we start hitting, you know People groups of a hundred a thousand or maybe even more and this is where tokens were introduced The first word, you know seashells But you didn't want a kid to walk on the beach and become a millionaire Instead you wanted a token that was quite difficult to extract and this is where gold and precious metals were a perfect candidate Because the amount of effort it takes to extract that from the earth is kind of like the same amount of effort that you would have needed to have done to benefit the society in a meaningful manner and What was quite interesting with the the tokens or the gold tokens is How they started getting minted in religious Religious temples specifically the Romans the Romans sort of minting these tokens in religious temples and it's fascinating because in America now You know on the dollar greenback they say in God we trust and the Roman coins They started writing their Roman goddess's name on whose temple they were minting it in and her name was Monita in fact, that's the epitomology of how we even get the word Money is coming from Monita and Monita of course was the Roman goddess of memory So we see right from the get-go that money was used as a memory device to see who had like I say Contributed to society so therefore who could you know read the benefits of of society? Of course as time went on and economic theory started to develop money got redefined as you know a store of value and You know a value of exchange and and these other kind of things and we started developing the time value of money and financial formulas And and that kind of stuff and like I say with inheritance and monetary policy It started taking on a different act of itself and like I say I think one of the the shortcomings of that is that it led to widespread Inequality because now people aren't all born equal Some of us are born with parents who are in a wealthier position than others and that tends to you know Gradually sometimes even exponentially increase and so we have this widening of the gap between Let's say people at birth based on who their parents were and so for a society that strives towards equality and fairness Our monetary system kind of hinders that from from the very get-go So when it comes to AI, I think we're gonna have a a better solution now Of course, I don't think we're just immediately gonna get there. I think money is gonna slowly Evaporate or turn into some sort of gas and then ultimately disappear I mean already we're seeing money going from you know a solid like coins and notes and physical things that you can touch To more of a liquid in the sense that you know We talk about cash flows now and money's becoming very digital and we've got an income stream and you know money starting to become paid Not only just monthly but expenses such as Netflix subscriptions and all these other things But soon we're gonna see those those like yeah the time between the payment dates is gonna become shorter and shorter and shorter So now we've got monthly it could become weekly it could become daily It could become instantaneous and I think we're gonna reach a part of our future where When you're earning money, you're gonna have this positive income stream and all your expenses can be expressed as an outward stream And at any given moment you can see if you're making more money or less money based on the instantaneous Rates of change of your bank balance like I say this is probably a couple years away But we're gonna see money becoming very much like a form of of liquid and that's just because you know We really are taking the time value of money into to consideration But ultimately I think it's gonna disappear now the first technology that's kind of laying down the ground works for this is Blockchain what I think is beautiful about blockchain is it's a mutable property and it's just you know This general ledger the single source of trust and it's an ultimate memory tool I mean if you look at the blockchain You can see where a coin has gone what addresses this bump through and you can see this for all the tokens or the Bitcoin out there, you know, even Ethereum and and you know polygon matic and the other ones out there as well is Blockchain has come with a beautiful way to track memory and I think that's where it's It's really gonna you know come in on on its own and we are gonna see money start changing and shifting towards the blockchain But ultimately We're gonna have a situation where AI is gonna be doing all of our jobs All the nasty ones all the ones that no one wants to do like just just like our AI has dominated the game of chess We still play chess because we enjoy it So there will still be some jobs that we will do Wouldn't I say jobs? There'll still be some functions of society that we'll do purely because we enjoy it maybe making music maybe cooking You know, maybe helping someone just from that own intrinsic value that it gives us a sense of purpose and meaning And I think meaning and purpose are gonna be huge huge commodities in in the future I mean nihilism has failed society and we are gonna see a huge return back to back to religions Because of this very thing that they provide us with this purpose and meaning and especially a lot of people get there from their jobs That the AI is now going to like I said, I want to say take away because you can still do the job It's gonna take away the compensation For doing the job so you can still go and do everything You're just not gonna be compensated for doing it and we can either have a future where there'll be this universal basic income Where everybody gets paid a specific amount and it's up to us to determine how we distribute it But why I think that we're gonna even skip that completely is because the AI will be in a better position than ourselves to determine how we should spend our Money or our allocation of resources for our society also with AI we can increase our efficiency You know tenfold if not even more so we're gonna enter this era of abundance And so they won't actually really be this too much of a need of oh, I want this but I can't afford it because everything will effectively become a lot cheaper and Land maybe not so much land land is an interesting one Just in the sense that it's so non-fungible and people might you know We'll have to figure out another way on how to transfer property or re-addicate property But that's another another can of worms for for another day but I think just in general we're gonna live in a society in the future where you're gonna wake up and Yeah, the AI will know that okay this person needs so many nutrients so much water so much food so much entertainment so much You know relaxation all these different type of things and You'll ask the AI say hey, I want to watch Netflix and they'll be like of course You know you can watch your Netflix, but let's say spend the whole day watching Netflix the AI might say mmm, you know stop being a sloth and Maybe go to the gym You know from a health point of view the best thing to do is to start exercising now You'll go to the gym and like I say There won't necessarily be a membership fee. There might be something where You know, I mean even now there's some gyms that are better than other gyms And we might get categorized until we've reached a future where everything's complete abundance Like I said, it's gonna be this gradual thing. We might get to a stage where the AI will say okay, listen You can have the nice gym if the other person who doesn't get the nice gym gets the more comfortable Transport or the person who gets more comfortable transport might get less of some other other good So there might be a little bit of trade-offs in that regard So there's not gonna be one person who's just getting the best of everything But the AI will determine who is worthy just like how back and I can say I think we're gonna return to to the roots like just how we were in this little civilization back in the day where you've got to enjoy the the meat of the hunt if you brought water the day before or if You're you know likely to build a house tomorrow because you're gonna be contributing in some sort of way You know, you can enjoy in the spoils I think we're gonna get a blend of a situation where like I say some of the people who are still contributing in Some sort of way might be allocated a little bit more or we might get to a situation where saying hey Humans aren't contributing anything the AI is doing everything. We haven't reached max abundance yet So while we're doing that, there'll be a little bit of rationing But rationing in a sense where you know people who enjoy gymming get the best gym membership People who enjoy comfortable transport get the best comfortable one and the AI Fairly allocates it across because it's the AI it's gonna be able to to do this allocation in a non-biased way And if we can get this, you know Artificial general intelligence system up front where it knows what's best for everyone It knows what resources are available for everyone it knows how to put in certain safeguards to prevent people from abusing and you know the What's this with the whole dilemma of the common good? You know if there's if it has those ways on how to prevent it, which I'm assuming it's going to because hey It's AI so indulging in this fantasy is the assumption that the AI would be able to solve all of the problems that we have We are gonna get into the situation where okay if resource allocation has been perfected Why do we still need money and that's why I believe that yes, it will still be tracked what we do There will still be a system of memory the AI might watch what we do see how much of a good person We are you know if we commit a crime, you know certain privileges might be but be revoked I mean, I'm not a big fan of the whole prison system I think that's completely inhumane although it could be going completely of topic. That's another can of worms You know, maybe you commit a crime and certain privileges get eroked for a certain amount of time often You've done a rehabilitation they get reinstated and of course the more severe the crime the more severe the revoking and you know There will still be some crimes that society will still have prisons Unfortunately for just you know for the benefit of of everybody else Um But y'all we will have a memory tracking system, but it won't need to be tokenized We won't have to actually quantify because I think that was the big thing with money is it brought this idea of Quantification to the value that we contributed to society an idea that like I said back in the beginning I brought water you did the hunt other person built a house In those we've got three different deeds house building fetching water hunting And we haven't quantified the value of either them. It's just like if you if you you know act Participated you get to you know sharing the spoils of of all three of them But when we introduced a token system, we might have said oh fetching water is only worth one token The hunt is worth five tokens and building a house is now 10 tokens And what essentially you've done is you've introduced this quantification of of value How is that determined? This is where a card in the scratch their head because many formulas and theories that we come up with There seems to be irrational pricing That we tend to see I mean just think of luxury watches for example the higher their price the more They're in demand because now they're used not just to tell the time but to signal ones worth value and status in a society And that can be kind of priceless I'm looking at you Rolex in that regard so What I think is going to happen with the AI is we're going to We're going to break away from that quantification Of of value and that I think is going to bring us back to more of a fair system because There are some people who my thing was turning off there. Maybe this video is going on for a little bit too long There are some people who are able to I don't want to say contribute I guess you could say contribute more because we are quantifying with the monetary amount There are people who make more money than other people And then like I say their offspring are in a much better position starting position than other people's offspring and Should our position in life be determined by our parents, you know, or should it be determined more by our own efforts? you know, there's whole philosophical and social view with regards to to that and I think like I say we could have a system where the AI is like, okay You're a healthy person. You've got a high IQ You know, you've come from a privileged background A lot more is expected from you in order to maintain your privileges and allocations and resources Then say somebody who might have been born with a health issue or a disability of of some sense I think the AI will create a society that is a lot more fair And in doing so, it's not going to need quantification of value because again, doesn't need quantification of value Another reason why we're going to see money evaporate and basically become irrelevant Um, I have been talking for over 20 minutes. So maybe let me wrap up this video over here But keen to hear your guys thoughts. Let me know if you think I'm completely on the wrong path Maybe AI is the terminator is going to destroy us. We're going to go into a mad max kind of situation Or if you think no, even once we do reach utopia and we do reach a general insurance General insurance a general intelligence. You can see a little Freudian slip there of the actually in me Even once we do reach this level of technology Money is going to maintain this place just because it's so embedded in the psyche of the collective And it's going to be really difficult for us to to get over that um So yeah, looking forward to your guys thoughts and discussions down the comment section below And like I said apologies for taking so long to to make another video I hope you've all been well. Cheers