A venture capitalist named Kai-Fu Lee used to develop artificial intelligence for both Microsoft and Google, he also told CBS’ 60 Minutesthat AI will displace 40 percentof the world’s workers within 15 years.

“I believe [AI] is going to change the world more than anything in the history of mankind,”, Kai-Fu Lee Lee told CBS. “, he also said that the change caused by AI will be “More than electricity.”.

Many big names from the tech industry like Elon Musk and Mark Zuckerberg are supporting a Universal Basic Income (UBI) as a solution to the job replacement by automation issue and poverty in general.

Lee also told CBS  that this wave of automation and worker displacement will happen much more quickly than others, such as the invention and distribution of the steam engine.

Part of that is because AI algorithms can be shared around the world among developers and business leaders with little need for new infrastructure. No railroads or highways or power grids need to be built.

What’s left to be determined, Lee said, is whether the best moneymaking AI will come from America, which houses most of the top AI developers, or China, where smartphone apps like WeChat give businesses rich data on nearly all aspects of users’ lives.

Source: futurism.com