Technology, Automation, Loss of Jobs and Universal Basic Income
With the rise of automation in the world, there will be an increase in things that look like science fiction (Sci-fi) and at this point, what will humans do? The industrial revolution brought drastic change to human lives while displacing a lot of jobs at that time but scientist have predicted that technology might reach singularity in the next 10 years since the rate of technological advancement has been doubling in last 10 years. Just like the industrial revolution, there is going to be a new revolution and that is going to be Automation (the machine revolution).
It is no doubt that a lot of restaurants, supermarket chains and drivers are already losing their jobs to automation, companies like Amazon, Tesla and BMW are working round the clock on improving AI machine learning and deep learning it looks more realistic that by 2030, a lot of people would have lost their jobs.
What can be done?
A lot of people say that AI will create other types of jobs but the truth is will it be able to give jobs to the same number of people that will be displaces? On possible solution is Universal Basic Income (UBI).
Universal Basic Income
American Presidential Candidate Andrew Yang has based most of his campaign on Universal Basic Income and he is not the first person to talk about this, even in the 16th century, philosophers wrote about a time when citizens will be relieved of carrying the burden of worrying for their basic needs. Also Thomas Paine, a philosopher also wrote about this in the 1797.
This is an income for citizens of a country because they are alive and do not have jobs, so they can be able to attend to basic living needs such as food, shelter and clothing.
In the past, Cinemas were big things and were able to employ a lot of staffs but with the advent of the internet and Video service providers like Netflix, people prefer to watch the movie they want and when they want it with their loved ones. The same thing applies to supermarkets and restaurants, automated services, check in and out are possible. This is just the beginning as automation will take away a lot of jobs in different segments as machines and robots are cheap to maintain, fast, accurate and safe cost. Automation will affect positions ranging from machine operators and assemblers, Repetitive elementary jobs, Craft. Service and sales workers, Agricultural farmers, lawyers, doctors, stock brokers and many more. The fact remains that as much as technology keeps advancing, we will need less humans to do jobs.
Humans can only work 8-10 hours daily but robots and automated machines can work as long as 24 hours with no need to rest except there is a technical problem and this does UBI come in. People will be left with no jobs while companies will improve revenues as automation will make work faster, easier and more accurate.
Will this Affect the Economy?
Having AI and robots taking away jobs and leaving people without money for their basic needs could cripple the economy but with the Universal Basic Income, people will be able to spend on basic needs while the company making revenues using automation are taxed more. Tech giants like Mark Zuckerbergw and Elon Musk have been pushing for universal basic income.
Technological innovation is developing faster and faster, and this brings huge benefits and inevitable changes in our way of life. One disadvantage is that machine learning and automation have replaced jobs, and this will increase rapidly. It also has the potential to replace a large part of this income with Universal Income (UBI) or state money for all adult citizens , possibly starting with coverage of some controls and increasing in the range of $ 100,000 per year in the following year.
Thanks for the point you raised, appreciate your comment buddy.
Yeah. Hopefully there are benefits.
The world is changing dramatically. Automation has made and will continue to make job losses. It is a reality, increasingly present all over the world. However, it is a little difficult to live now without this part of the technology that makes things work like this, automatically. What will become of the world, unemployment, with the most powerful?
No idea. I think that, to a great extent, we have to reconsider this reality and see how we can solve this great problem that society is going to face in the next few years. However, I know that when people are easily guaranteed this kind of thing, permanent maintenance can be counterproductive. Somehow you have to create a way for them to continue to produce... in some way. I hadn't thought of this.. good post, good theme @ajewa
Thank you for your amazing contribution @josevas.
I think that yesterday I talked about this in my publication, where I emphasized that the technology was greater day by day, that the point would arrive where we would have to compete with robots, and I still think about it, that's why it's ideal that we begin to familiarize ourselves with the works from the internet, since very probably in a few years we will no longer be indispensable.
On the other hand, I didn't know about the universal basic income, I think it's excellent, the detail is that it will be a limited income I assume, maybe not everyone will agree on having a certain amount per month when they could produce more themselves. But I particularly think it's a great idea, especially for those elderly people who are probably not able to work anymore. Now what I do question is whether all governments want to implement such an approach.
Greetings, I really liked your publication.!
I really do not think humans have the ability to compete with robots, those things are made to be super faster and super stronger than humans mehn......
Thanks for the beautiful comment.
The rise of technology is seriously scary but talking about universal basic income I fear for a country like mine or maybe I should not even be too worried because most of these technologies I read about everywhere have no chance near my country for the next ten to twenty years.
We never can tell what may happen, we already have the unbeleivable's happening everywhere.
Dear @ajewa
One of those posts, which surely are worth checking out and reading through.
Surely we live in interesting times. Future in so many ways is scary as fuck. Can you imagine how difficult it will be to keep up with technological advancements once we will be old? We may completely feel lost in this world, once we will retire.
It will be harder then for old people, than it's now.
There are other solutions. Similar to the ones I've seen already in the past. When IBM opened their factories in Ireland, they received huge tax relief but only if they employeed some particular number of workers.
Bars, night clubs and even fastfoods opened late night would have security officers. Why? Because hiring security guy was allowing them to reduce cost of insurance. And that policy was enforced also by politicians.
What I'm trying to say, that we may come to the point in which each company will HAVE TO HIRE in order to have an access to "the market".
I think this would be the way to go.
Upvoted already :)
Yours, Piotr
As scary as the future sounds, this sure comes with a promise of relief for job options if this type of method is put into place.
@ajewa automation is always create less jobs and many people will not be able to get jobs due to automation but it has both positive and negative points.
Very true! The technology comes with its good and bad side.
Interesting perspectives on automation and UBI!
Thanks to @akdx, this post was resteemed and highlighted in today's edition of The Daily Sneak.
Thank you for your efforts to create quality content!
Thank you.
Thank you!