The future of human employment is bleak. With improvements in technology, automation and artificial intelligence a perpetual constant, what will happen to the stuff we do every day?
A recent report published by the Oxford Martin predicts 11 million jobs in the UK to be obsolete by 2034 and it is believable too. Take for instance the transportation industry which currently supports around 6% of Australia’s total employment. This industry is now faced with the introduction of automated, self-driving cars that will likely be built by robots, so where do the humans fit into this formula? Essentially, they don’t and at no fault of their own.
This video looks at the inevitable automation of the workforce.
Many questions (and fears) can arise from the facts presented above, but how will governments deal with bulging unemployment? With the future promising the automation of most industries, will governments be pushed to simply sustain the population? Ideas such as the Negative Income Tax or the Garunteed National Income look to establish a basic income for all citizens of a country, essentially paying them a supplementary amount to bring their income into equality with a middle class level.
What do you think will be inevitable in the economy of the future? How will we combat it?