For humanity, a Chinese factory run by robots may be the biggest news story of 2015 (emphasis mine):
Previously, there were 650 employees at the factory. With the new robots, there’s now only 60…
The robots have produced almost three times as many pieces as were produced before. According to the People’s Daily, production per person has increased from 8,000 pieces to 21,000 pieces. That’s a 162.5% increase.
The increased production rate hasn’t come at the cost of quality either. In fact, quality has improved. Before the robots, the product defect rate was 25%, now it is below 5%
Brain benelles are at a crossroads. As Moore’s Law holds, and computing power doubles every two years, an alien species called artificial intelligence is being born. As a consequence, technology integration may become a desirable necessity for people.
Well, brain benelles seem to break into two parts: core and edge. Core is root structure; edge builds on core. Each part of the brain seems only to need a core number of benelles to function, with extra layers of edge benelles being a big bonus.
Economics and health are connected in many ways. John Mauldin in his May 16, 2015 letter paraphrases economist Bill White:
Central bank models, he told us, are artificial machines. His best quote was, “The basic problem with central banks: they think they know how the economy works.” Their models are built to be gamed and always assume a return to equilibrium. But there is no equilibrium – you are where you are. The problem with equilibrium models is that they don’t reflect reality.
An economy is like a forest ecosystem, not a machine. We are on a very bad path – debt is unsustainable. Notice the environment since the 2008 crisis: the Eurozone crisis is a limited variant on a global crisis; fiscal and regulatory restraint is not helpful; and monetary policy is the only game in town and is not effective.
CEO pay of large companies is about 330 times that of regular employees, and this means a great life for at least 330 American families.
What about the rest of the “top 10%” families? Well, many are successfully centered around a doctor, lawyer, mid-level executive, or financier. But in the anonymous and soul-crunching background, the other 90% of families are starting to look like a ragtag conglomerate of debt-serfs and welfare-survivalists.
Populists like to take pens against pond scum CEOs, but it is unlikely that CEOs, even with their crony compensation committees and captured boards, are what’s driving unbalanced pay.
Some experts believe robots will gain a human level of intelligence by 2050. Of course, experts in the 1950s were saying the same thing would happen by the 1980s, and they were wrong.
Regardless, our society is marching toward robotic, wirelessly-networked technology. And this puts old-fashioned wetware under immense new pressures.