5d ago

'Godfather of AI' says the technology will create massive unemployment and send profits soaring — 'that is the capitalist system'

'Godfather of AI' says the technology will create massive unemployment and send profits soaring — 'that is the capitalist system' | Fortune

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cm0002 @lemmy.world

5d ago

'Godfather of AI' says the technology will create massive unemployment and send profits soaring — 'that is the capitalist system'

fortune.com /2025/09/06/godfather-of-ai-geoffrey-hinton-massive-unemployment-soaring-profits-capitalist-system/

Technology @lemmygrad.ml

☆ Yσɠƚԋσʂ ☆ @lemmygrad.ml

5d ago

'Godfather of AI' says the technology will create massive unemployment and send profits soaring — 'that is the capitalist system'

fortune.com /2025/09/06/godfather-of-ai-geoffrey-hinton-massive-unemployment-soaring-profits-capitalist-system/

19 comments

All of these doomers are talking about the consequences of true AGI.
On the one hand, we don't have true AGI, and probably won't for a while yet.
On the other hand, we are so behind with regulating tech that if we do develop AGI we will certainly be completely unprepared for the consequences despite all these doomers telling everybody exactly what could go wrong. And they will be right.
Fingers crossed it doesn't happen in our lifetimes.
- That's kind of missing the point. It's not about AGI, but the question of how any automation is applied under capitalist relations. In a sane society, more automation would mean more free time for the people to enjoy their lives. However, capitalism requires people to work for the sake of working, and thus automation becomes something to be feared as opposed to celebrated.
  
  Yes we’ve known this about capitalism and automation for centuries. My point (that you’re ignoring) is that LLMs will not give us any kind of automation worthy of discussion in that context.
  Except perhaps for shitty SEO recipe website automation.
For a time, until aggregate demand craters and the economy enters a depression.
It's nice to see that Hinton isn't playing apolitical.
How? If everyone loses their jobs nobody has any spare income. Therefore nobody buys anything they don't need and cut back what they do need to the bone. Share price tanks because everyone stopped buying stuff. Capitalism collapses. The whole thing only works when there's a customer, credit has been filling the income gap for years but if there's no hope of repayment then nobody will get credit. I just hope it takes the tech giants long that I and the people I care about don't have to deal with the fallout.
- We can sell our kids to be sex slaves for the people who will be redacted in the epstein files.
- Did you miss the part where he points out that capitalism is the underlying problem?
  
  He doesn't say it's a problem, just that that's how it works. My prediction is it will collapse under its own weight.
Hinton has been saying apocalyptic things for years, and we've seen no evidence for most of it. At this point, I'm sceptical of anything he says, and I especially am curious about which companies he invested in and has a vested interest in the success of.
- It's pretty weird to be skeptical of the obvious fact that capitalism is at odds with using increased automation for the benefit of society.
  
  Sorry, what I meant was that I'm sceptical AI can achieve what people are saying it will achieve. I think there will be a realisation that the impact would be significant enough to mention, but nowhere near as revolutionary as tech CEOs are trying to sell it as.

19 comments