Imagine an insurance company decides to use AI to do most of the work. It’s fast, efficient, and cheap. So they let go of a lot of their staff.
Now that they have fewer people, they don’t need as many outside services. That includes things like office supplies, cleaners, IT contractors, and marketing agencies. So those other businesses lose income too, and they start letting people go or turning to AI themselves.
That means even more people are out of work.
And here’s the catch. People who don’t have jobs don’t have money. And if they don’t have money, they’re not buying insurance. They’re just trying to survive.
So the insurance company starts losing customers. Their revenue drops. They then let even more people go. The cycle keeps going.
Eventually, there aren’t enough paying customers left to support the business. The company keeps shrinking until it finally closes its doors.
In trying to make things more efficient, they ended up wiping out the very people they depended on.
Imagine an insurance company decides to use AI to do most of the work. It’s fast, efficient, and cheap. So they let go of a lot of their staff.
Now that they have fewer people, they don’t need as many outside services. That includes things like office supplies, cleaners, IT contractors, and marketing agencies. So those other businesses lose income too, and they start letting people go or turning to AI themselves.
That means even more people are out of work.
And here’s the catch. People who don’t have jobs don’t have money. And if they don’t have money, they’re not buying insurance. They’re just trying to survive.
So the insurance company starts losing customers. Their revenue drops. They then let even more people go. The cycle keeps going.
Eventually, there aren’t enough paying customers left to support the business. The company keeps shrinking until it finally closes its doors.
In trying to make things more efficient, they ended up wiping out the very people they depended on.