This article is also available in Spanish.
Raoul Pal, the founder of Real Vision and a well-known figure in the crypto community, has issued a strong warning about the rapidly approaching changes in the global economy, driven by unprecedented advances in technology. In his latest video, Pal, who has long advocated understanding what he calls the “age of exposure,” says that the coming years will bring the biggest changes humanity has ever experienced, thanks to the rapid development of artificial intelligence (AI). ) and robots.
According to Pal, we are approaching what he calls “economic singularity,” the point where current economic, market, and business structures will no longer work. “Around 2030, things will be unintelligible using the existing frameworks of economics, financial analysis, markets, and that kind of stuff,” Pal explained.
Pal asserts that AI and robotics are advancing at a pace that will outpace the human ability to adapt under current economic systems. Declining birth rates and aging populations in developed countries are leading to a decline in traditional economic sources of GDP growth. In addition, Pal notes that production has not kept pace with technological capabilities, and many new debts simply pay off old debts, not creating new economic value.
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The most important aspect of Pal’s warning concerns the role of AI in the economy. He believes that AI will reach and surpass human intelligence levels in all areas of knowledge, fundamentally changing the labor and productivity landscape. “AI is the infinite knowledge of man now […] “As these models scale, breakthroughs come, and the AI’s IQ score goes from 100 to 400, then into the millions of human intelligence,” Pal said.
This massive increase in AI capabilities is expected to lead to what Pal describes as infinite production and near-zero electricity costs, primarily due to advances in renewable energy technology. He argues that these factors will lead to greater deflationary pressures as goods and services become less expensive to produce.
The Key Role of Crypto
Pal is particularly focused on the transformative potential of blockchain technology and cryptocurrencies in this context. He describes a future economic model in which “AI agents” perform tasks and transact automatically using cryptocurrencies, given their ability to operate independently of traditional banking systems.
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“Obviously, we will need crypto payments to pay for it. […] I think we will use cryptocurrency to do that because the last time I checked, AI can’t get a bank account – it will never transfer money via SWIFT, it won’t happen,” commented Pal.
Pal urges viewers to see the urgency of investing in cryptocurrencies. He advises that the window to use this technology is closing fast, as there are only about six years left to make significant gains before traditional economies and market structures change irreversibly.
“We will have to face this together and we have to be smart and try to figure it out as we go but I know that this idea of 6 years to make as much money as possible is really important and I do it. think that the real answer to this, in my opinion, is cryptocurrency because it is the most efficient asset in the world and times All of them. So I think it’s one thing we can depend on, it has a big future,” said Pal.
At press time, Bitcoin traded at $63,588.
Featured image from YouTube, chart from TradingView.com