AI will make the communist wet dream come true: setting prices.
Better yet, it will set up transactions. AI will tell you exactly what to buy, at what price, and from whom. And you will. It would be foolish not to, since AI will know better than you what you need.
Obviously, it will also tell you what to sell, to whom, and at what price. Including your own workforce. Your time. Your skills.
And you will follow its advice. Because it would be stupid not to. This new marketplace will have absolute knowledge of all human beings: what they want and what they offer in return.
Various AIs will compete to provide this service. I predict that the war to the bottom for commissions on these platforms will reach the point where they will pay us to use their service. Or at least, that will be the perception. This is nothing new to anyone who has closely followed the business and marketing strategies of some large consumer-facing platforms.
I also consider it likely that we will be paid in the form of shares in the company itself, as these platforms will be so successful that it will be in our best interest to own even a small part, with enormous potential revaluations. It would be inconsistent to argue otherwise for an AI whose goal is to manage all the world’s transactions.
In this context, the conditions will exist for the idea of payment in the form of in-kind participation to spread, gradually making the concept of money disappear. Because if you have a database of everything that exists and who owns it (what they call “tokenization”), you don’t need money to make transactions; you just have to change the ownership percentages.
This doesn’t mean that cryptocurrencies will disappear, as their primary utility will remain intact: speculation. They will continue to be highly volatile assets. They will appear and disappear. And there will be nothing as easy for AI to manipulate, and with greater incentive to manipulate, than this.
These AIs will also tell you if it’s worth giving up the last thing you have: your own life, in exchange for something even more valuable and something you value even more: the safety of your children. Because this futuristic scenario will not be free of dangers and conflicts.
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