""What's actually going to happen is rich people are going to use AI to replace workers," Hinton said in September. "It's going to create massive unemployment and a huge rise in profits. It will make a few people much richer and most people poorer. That's not AI's fault, that is the capitalist system.""
""If you could make doctors five times as efficient, we could all have five times as much health care for the same price," he explained on the Diary of a CEO YouTube series in June 2025. "There's almost no limit to how much health care people can absorb-[patients] always want more health care if there's no cost to it.""
"A survey from the New York Fed at the time found that companies using AI were much more likely to retrain their employees than fire them, though layoffs are expected to rise in the coming months."
AI adoption will enable wealthy actors to replace workers, generating massive unemployment and concentrating profits. AI-focused firms often prioritize short-term profits over long-term consequences. Current data show layoffs have not yet spiked, but AI is reducing entry-level opportunities for recent graduates. A New York Fed survey found companies using AI are more likely to retrain employees than fire them, though layoffs are expected to increase. Healthcare appears relatively safe because efficiency gains—such as making doctors five times as efficient—could expand care supply at unchanged costs. Routine, mundane tasks are likely to be automated while high-skill roles remain comparatively protected.
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