Economic Singularity, defined, is the point at which trainable machines or trainable extended systems of connected smart components manufacture and maintain trainable machines or trainable extended systems of connected smart components.
From Boston Dynamics Atlas to the smart but limited 5G machines hitting the ground by the hundreds in China, the evolution of the Economic Singularity has been a quick study of few years duration. I have kept up.
The concept of the Economic Singularity, essentially robots making robots, is extremely important as it marks the point at which productivity increases progress from linear to exponential to meaningless. It marks the theoretical end of manufacturing scarcity.
To this point the equation, price = utility x scarcity, has held as a generality. Now it switches to, price = utility. That's a whole different universe and, if asteroid mining pays off, an end to scarcity altogether.
There has never been an economy like this, a world like this.
The sun is but a morning star;
The future is now.
Do Well and Be Well.
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