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If access to AI will reduce the need for labour, will it also reduce the need for capital?
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The integration of AI is expected to significantly reduce human-hours per unit of production across many jobs, potentially leading to increased unemployment in certain fields. A key question is whether AI will also decrease the capital required per unit of production. If less capital is needed, it could lead to a broader distribution of wealth and income, enabling more individuals to enter markets as artisans, contractors, or small businesses, rather than concentrating wealth among a few.