The AI ​​Revolution: Health, Wealth, and a World of Job Loss

To keep the economy running smoothly and prevent widespread social unrest, Roubini predicts that governments will implement universal basic income (UBI), which are unconditional payments that replace existing social security, unemployment benefits, and welfare systems. To fund this program, AI will be taxed, helping to offset some of the costs.

While Roubini's prediction that most jobs will disappear within 20 years may be a bit optimistic, he believes that AI will eventually completely change the nature of work as we know it.

As traditional jobs disappear, people will move towards a more meaningful and purposeful lifestyle. In this context, the healthcare industry, including mental, physical and spiritual health, could be the biggest beneficiary of this shift.

Amara's Law

In the 1970s, American researcher and futurist Roy Amara made a famous statement about human adaptation to technology, known as Amara's Law: "We tend to overestimate the impact of technology in the short term, but underestimate its influence in the long term."

AI is a clear demonstration of this law. Invented in the 1960s, many scientists at that time predicted that AI would surpass humans in all fields by the 1980s.

However, reality has proven that they were more than half a century ahead of their time. Today, experts predict that by 2030, AI will surpass humans in most fields.

While it’s still early days, current advances suggest that AI, when combined with large-scale automation and robotics, is bringing us closer to what Roubini predicted: the end of most repetitive jobs. What’s happening in East Asia, and especially China, is a living prophecy of the future.

China now has nearly 2 million industrial robots, accounting for more than half of the world’s total. And Chinese manufacturers are not just limited to scale, creating AI robots that can perform a wide range of tasks, from planting and harvesting crops to installing and cleaning solar panels.

In addition, the level of automation in China is reaching new limits such as:

- More than 90% of processes in the production of electronics, batteries, solar panels, containers and warehouses have been automated.

- The most modern electric vehicle (EV) factories can assemble a car in just 30 seconds.

- BYD, the Chinese electric vehicle giant, has deployed 500 multi-tasking humanoid robots that can do everything from sorting components, turning screws, to checking product quality using AI.

At the same time, the role of humans in supply chains and production lines is shrinking. By 2030, China is forecast to account for nearly half of global manufacturing output, thanks in large part to its leadership in automation and AI.

So, technology is not only changing the way we work, it is reshaping the very concept of “work” for humanity.

AI is not just optimizing production and logisticswhich is reshaping the entire labor market.

Breakthrough advances in Large Language Models (LLMs), such as the US's ChatGPT or China's DeepSeek, are revealing a worrying reality: very few jobs are safe from the wave of automation.

Today, LLMs can not only write articles or technical documents, but also review contracts, analyze medical images, and automate software testing, tasks that are traditionally done by humans.

Facebook founder Mark Zuckerberg predicted in an interview last month that AI could start replacing software engineers as early as this year.

“AI will take over the jobs of mid-level engineers this year,” he stressed. “We will soon reach a point where the majority of code in applications and AI will be developed by AI engineers themselves, rather than by humans.”

With the current rate of evolution, AI not only supports humans but is gradually replacing us in many fields.

AI and Abundance: Will Basic IncomeIs universal the solution?

Economist Nouriel Roubini supports the view of futurist Peter Diamandis, co-author of the bestseller "Abundance: The Future Is Better Than You Think"(translation: Abundance: The future is better than you think).

According to Diamandis, we are approaching a time when all basic human needs can be met globally, ushering in an era of "plenty" for all.

Like Roubini, Diamandis believes that AI, robotics and advanced technology will revolutionize manufacturing, creating virtually limitless consumer goods at ever-decreasing costs.

This could have a deflationary effect, keeping the cost of living lower. But the biggest problem is not production, but keeping the economy running when wealth inequality is getting worse.

Economic inequality is at record levels and could continue to rise without intervention, which is why Roubini believes universal basic income (UBI) will become a necessity.

He argues that AI could create massive wealth to fund UBI, ensuring people still have purchasing power even as traditional jobs disappear.

Recognizing the enormous impact of AI, many tech leaders such as Elon Musk, Sam Altman (OpenAI) and Jack Dorsey (co-founder of Twitter) have spoken out in support of UBI. Large corporations such as Google, Apple and Cisco have even funded projects to test this model.

A study by the United Nations Development Programme (UNDP) highlights that the timing of UBI implementation is key. If implemented too early, it could impact a country's competitiveness.

Furthermore, for UBI to be truly effective, it cannot operate alone but needs to be accompanied by major reforms of the tax system and social safety net.

Health for all

Sooner or later, a world without work will become a milestone in human history.

If the 20th century saw machines diminish the economic value of physical strength, the 21st century will see AI challenge the value of specialized knowledge, from accounting to architecture to law.

For many people, work is not just a means of earning a living, but also a part of their identity, defining their social status and providing a sense of accomplishment. As job security gradually disappears, society will need to search for new values ​​and a more meaningful way of life.

Among them, the wellness industry, with its focus on mental, spiritual and physical health, could be one of the biggest beneficiaries.

The sector is expected to grow between 9% and 12.5% ​​over the next decade, outpacing overall economic growth. Beyond traditional health services, the industry is expanding into areas such as community wellness experiences, group therapy, mindfulness training, and holistic development programs.

While AI may impact the healthcare industry, jobs that require compassion and human connection will be largely protected from the automation wave.

East Asia has demographic reasons to lead the AI ​​revolution. Japan, with a median age of 49 and rising, is approaching a 1:1 worker-to-dependent ratio in the next 20 years. China and South Korea face similar demographic challenges.

Despite being the world’s oldest region, East Asia has the potential to be a pioneer in the post-labor era. Not only does it produce much of the hardware needed for Industry 4.0, but it is also not burdened by the same AI skepticism as the West.

China has even taken the initiative to incorporate AI into education, preparing future generations to adapt to the new world. Last December, the Chinese Ministry of Education issued guidelines requiring primary school students to be familiar with and experience AI, while secondary school students are trained to understand and apply AI concepts in practice.