The rapid advancements in artificial intelligence have left the brightest minds in the world baffled. Top-rated companies are hiring AI researchers and robots at an unprecedented rate and that seriously puts the livelihood of mankind at great risk. Predicting a reduced earning capacity and opportunity for humans, Finland, Canada and India, among other countries are actively piloting the idea of “universal basic income” which basically asks the government to provide for a substantial amount of money on a regular basis irrespective of active employment.
But when countries are all energized and breaking their heads over the immediate problem of reduced livelihood, they are not taking into account the eventual demonetization of the cost of living that might just end up at being zero, believe it or not.
If you take a closer look at how countries around the world are spending their money, you would find that it is pretty much a consistent story – money is spent on basic amenities and needs such as housing, food, healthcare, energy, education, transportation and entertainment. There is a strong chance of the cost of these items falling straight down at great speed. For a better understanding let us take a closer look at how the cost of the mentioned items is anticipated to demonetize over the next few years or so.
• Housing: Location is what drives the market price of housing and people mostly flock to high-density areas that is close to the market and entertainment areas. But with the invention of autonomous cars that allow you to sleep, relax, read, have a meeting or watch a movie while on-the-go, would it really matter if it takes more than 60 minutes to commute to and fro? Virtual reality is another technology that would completely make going to office useless because you can plug into your virtual workspace and conduct meetings from your home.
• Food: Abundance of food will result in the drop of its cost. As food starts being produced locally using vertical farming and with great genetic and biological advances, the yield per square meter will increase.
• Healthcare: Robots will start acting as nurses and taking care of patients. With 3D printing machines, it will be easier to detect what kind of disease or illness one is likely to develop and the drugs that will be used the most.
• Energy: As technology advances to utilize the five thousand more times energy that the surface of the Earth receives from the Sun, it would help to demonetize the cost of energy. Airovient too has been developing energy-efficient ventilation systems that are easy on the pocket, feature sleek design but is a beast underneath. The technology boosts sustainable growth and development and does not add to the already increasing carbon footprint. It has been aggressively working towards coming up with better, greener technology and advanced engineering. Its products include ductless ventilation systems that do not take up much space, easy to install and do not make any noise either. The systems can be automatically operated and thus, reducing the need for human dependency. The systems are absolutely perfect for residential, commercial as well as industrial spaces and decreases energy bills due to its less consumption.
• Education: Education is available to anyone having access to internet connection. There will no longer be the need for setting up schools and hiring teachers.