Gravitational time dilation occurs because objects with a lot of mass create a strong gravitational field. The gravitational field is really a curving of space and time. The stronger the gravity, the more space-time curves, and the slower time itself proceed. If Earth were to suddenly lose its gravity, it would have numerous consequences that would significantly alter the planet and disrupt life as we know it. As Earth's atmosphere would dissipate into space, making it impossible for life to survive.