'Economic Dystopia:' Silicon Valley Tycoon Predicts AI Will Take Over 80% of All Work

Vinod Khosla, legendary Silicon Valley investor and entrepreneur, has predicted that AI will replace the majority of work in most jobs, necessitating the implementation of universal basic income (UBI) to prevent economic instability and inequity.

Fortune reports that in a recent blog post, Vinod Khosla, the billionaire co-founder of Sun Microsystems and early investor in companies like Netscape, Amazon, and Google, shared his insights on the disruptive potential of AI. Khosla estimates that AI could handle 80 percent of the work in 80 percent of all jobs, including roles in healthcare, sales, agriculture, engineering, and manufacturing.

Khosla warns that the widespread adoption of AI could lead to an “economic dystopia” characterized by concentrated wealth at the top and devalued intellectual and physical labor, resulting in mass unemployment globally. To mitigate these risks, he advocates for the implementation of universal basic income (UBI) as a solution.

“AI could create a world where a small elite thrives while the rest face economic instability, especially in a democracy that drifts without strong policy,” Khosla wrote. He emphasizes the vital role of government regulation in managing the impact of AI, ensuring equitable wealth distribution, and maintaining social welfare.

Despite the potential challenges, Khosla remains optimistic about the benefits of AI if used responsibly. He suggests that AI could generate sufficient wealth to improve everyone’s well-being and even usher in a three-day workweek within the next decade. For those who remain employed, AI could eliminate tedious and repetitive tasks, allowing people to focus on more fulfilling work.

Khosla envisions a future where the majority of work is handled by AI and robots, with humans providing the remaining 20 percent of work they may need or want. This shift could redefine the meaning of being human, freeing people from the drudgery of unfulfilling jobs and allowing them to pursue hobbies, spend time with loved ones, and engage in activities that promote personal growth and happiness — the typical rosy utopian future offered by everyone from communists to anarcho-capitalists.

“Life won’t become less meaningful once we eradicate undesirable, toil-intensive jobs,” Khosla concludes. “Quite the opposite—life will become more meaningful as the need to work 40 hours per week could disappear within a few decades for those countries that adapt to these technologies.”

Khosla’s predictions align with those of other tech leaders, such as Microsoft founder Bill Gates and Tesla CEO Elon Musk, who have also suggested that AI will lead to reduced workweeks and the need for a universal income. However, it remains to be seen whether these predictions will come to fruition, as previous forecasts of shorter workweeks due to technological advancements have not always materialized.