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In Hollywood movies all the more advanced aliens seem to be that way - already today speaking to someone on the phone seems to be more of an irritation than anything else. That said I think writing will go first - will be like calligraphy soon.
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Watching my son navigate interfaces like YouTube and Minecraft definitely opened my eyes to that. But I think you discount the power of sound/symbol correspondence. We might get more hieroglyphic (😘 𓀑 <3) but not illiterate.
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Neal Stephenson's essay "In the beginning... was the command line" points in this direction, using the CLI -> GUI computing transition as an example of a word-based culture moving towards one that gives 'the gist' while hiding complexity
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Assuming language is defined a set of common interpretations, no. If defined as a visual/auditory set of common interpretations, yes verbal can give way to transmitted data. What percentage of your communication is now silent and digital?
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If language goes out the window, so too does thought (Sapir-Whorf Hypothesis). Language will stratify in years to come, but not to the degree in your question (more like rich powerful vs subjugated voracious consumers).