Alibaba founder Jack Ma: AI will cause people 'more pain than happiness'

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Artificial intelligence and other technologies will cause people "more pain than happiness" over the next three decades, according to Jack Ma, the billionaire chairman and founder of Alibaba. "Social conflicts in the next three decades will have an impact on all sorts of industries and walks of life," said Ma, speaking at an entrepreneurship conference in China about the job disruptions that would be created by automation and the internet. A key social conflict will be the rise of artificial intelligence and longer life expectancy, which will lead to an aging workforce fighting for fewer jobs. Ma, who is usually more optimistic in his presentations, issued the warning to encourage businesses to adapt or face problems in the future. He said that 15 years ago he gave hundreds of speeches warning about the impact of e-commerce on traditional retailers and few people listened because he wasn't as well-known as he is now.

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