Brace for wealth inequality to explode as AI, robotics expand, Ray Dalio warns

Ray Dalio, founder of Bridgewater Associates, has warned about the future impact of AI and humanoid ￰0￱ to him, a serious spike in wealth inequality will necessitate a new redistribution ￰1￱ an interview on “The Diary Of A CEO” podcast, Ray Dalio explained his concerns, suggesting that these advanced technologies are meant to benefit the top 1% to 10% of the population significantly more than everyone ￰2￱ could potentially lead to profound societal ￰3￱ the top 1% to 10% “benefiting a lot,” he foresees that being a dividing ￰4￱ described the current business climate on AI and robotics as a “crazy boom.” To that end, the founder of the biggest hedge fund in history said that redistribution will be very important, which may come as a ￰5￱ Dalio says that AI could render many current professions obsolete Dalio also brought up the scariest conversation about AI taking up ￰6￱ described a future where humanoid robots, smarter than humans, and advanced AI systems, powered by trillions of dollars in investment, could render many current professions ￰7￱ questioned the need for lawyers, accountants, and medical professionals if highly intelligent robots with PhD-level knowledge become ￰8￱ noted, “We will not need a lot of those jobs why would you need even a highly skilled professional if there’s a “humanoid robot that is smarter than all of us and has a PhD and everything.” According to him, the bad outweighs the ￰9￱ promising great advances, the technological leap also carries the potential for great ￰10￱ Dalio told Steve Bartlett that the shift will have to be more than just a redistribution of money policy because underutilization and money may not be a great ￰11￱ to him, if one redistributes money but doesn’t think about how to put people to work, it could have negative effects in a world of autonomous ￰12￱ Yampolskiy, a professor of computer science, agrees with Ray Dalio that AI will give most people up to 80 hours of free time a ￰13￱ it’s also clear that AI is making it harder for recent college graduates to find ￰14￱ study found that jobs that involve AI have dropped by 13% since ￰15￱ changes made by the Bureau of Labor Statistics show that AI has started taking away tech ￰16￱ the job report seen by Cryptopolitan this week, data from recent months have also shown that the job market is ￰17￱ June, July, and August, the average monthly payroll growth was only 29,000, which is well below the level needed to keep the unemployment rate ￰18￱ biggest drops were in leisure and hospitality (-176,000), professional and business services (-158,000), and retail trade (-126,200).

Most sectors saw decreases, but transportation, warehousing, and utilities saw small ￰19￱ of the changes were in the private sector; government jobs were cut by 31,000. AI stocks are up, but Goldman Sachs expects a bear market soon Investors who have put all their funds in AI investments would not like Ray Dalio’s pessimistic ￰20￱ instance, ￰21￱ introduced its next generation of robotic process automation on Tuesday, powered by the C3 Agentic AI ￰22￱ has resulted in a bull rally where its shares rose 6% over the week. Also, the Nebius-Microsoft deal sparked a rally in AI-focused mining stocks on Tuesday, adding to momentum from the broader AI movement.

However, Goldman Sachs US equity strategist Ryan Hammond warned that AI investment as a percentage of capital expenditures could be nearing a ￰23￱ turn, that sets the stage for overly upbeat AI investors to be let down if earnings don’t come in strongly in future ￰24￱ you're reading this, you’re already ￰25￱ there with our newsletter .