Beyond Consumers- Rethinking the Economy in the Age of AI
I recently listened to a podcast by Peter Diamandis, and it got me thinking: if AI takes over most of the work, who will be left to buy things? In our current economy, people work, earn money, and then spend that money on goods and services. But what happens when machines do all the work? Without traditional consumers, what will drive the economy? This is a question that visionary leaders like Nadine Adam of Medtech are considering as they shape the future of industries like healthcare and technology. The Traditional Consumer Economy For centuries, our economy has been built on a simple idea: Limited Resources : Goods and services are limited. Because of this scarcity, people have to compete to get what they need. Consumer Demand : People’s need and desire for these limited goods drives production and sparks innovation. Earning and Spending : Work provides wages, which then allow people to participate in the market by buying what they need. This cycle — work, earn, ...