Will automation destroy more jobs than it creates? | The Tylt

Will automation destroy more jobs than it creates?

Economists and entrepreneurs say the advent of robots and automation will destroy more jobs than it will create—leading to a world where computers do most of the work and humans do... something else. Some critics say experts are exaggerating when they say the future will be jobless. Automation will replace some tasks, but it will also create new opportunities. The cost of goods will go down. People will still need to program the robots too. What do you think will happen? 🤖

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Unlike technological revolutions in the past, automation threatens to replace humans entirely. Already, fast food chains are replacing their workers with touch screens and robots. As automation grows in sophistication, more and more jobs will be lost without any clear replacements. Compounded by the fact that new jobs tend to need fewer people and assets, and it's increasingly clear there won't be enough jobs to go around. 

It estimates that automated vehicles could threaten or alter 2.2 million to 3.1 million existing U.S. jobs. That includes the 1.7 million jobs driving tractor-­trailers, the heavy rigs that dominate the highways. Long-haul drivers, it says, “currently enjoy a wage premium over others in the labor market with the same level of educational attainment.” In other words, if truck drivers lose their jobs, they’ll be particularly screwed.

The traditional thinking about technological progress and the economy does not apply here. Things are moving faster than they ever have before. The velocity of change itself is something to worry about—traditional programs to retrain workers may not be enough to address the huge numbers of people who will find themselves out of a job and without any relevant skills. 

It is often argued that technological progress always leads to massive shifts in employment but that at the end of the day the economy grows as new jobs are created. However, that’s a far too facile way of looking at the impact of AI and automation on jobs today. Joel Mokyr, a leading economic historian at Northwestern University, has spent his career studying how people and societies have experienced the radical transitions spurred by advances in technology, such as the Industrial Revolution that began in the late 18th century. The current disruptions are faster and “more intensive,” Mokyr says. “It is nothing like what we have seen in the past, and the issue is whether the system can adapt as it did in the past.”
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Critics say it's hard to predict the future and point to all of the new jobs we enjoy today that were created by technology. The jobs of the future will look different than the jobs of today, but rest assured, they will exist. 

Two decades ago the dot-com boom was under way, but who even then could have foreseen the explosion in social media? Today's tech hubs such as Silicon Valley and trendy parts of Berlin and London are full of young people doing jobs like designing smartphone apps that have only just sprung into existence.

New technologies will create new jobs and make current jobs more efficient and productive. That means people will have more income to spend on restaurants, going out and other services. The economy will change and so will people—and that's okay.

Beyond jobs that are the direct offspring of new technologies there are a host of ones that are indirectly generated through higher productivity. A more efficient food industry lets households spend less of their income on home cooking and more on eating out, creating jobs in restaurants. More generally, consumers can splash out more on a wide range of discretionary purchases, creating jobs for personal trainers and tour guides.
#FutureIsJobless
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#FutureIsJobless
#FutureIsJobless
#FutureIsJobless
#HumansWillAdapt
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#HumansWillAdapt
#HumansWillAdapt
#HumansWillAdapt
It is true that the growing demise of middle-skill jobs could cause employment polarization where lower paid workers serve the more affluent without upward mobility. This dynamic would undoubtedly be a step backward. However—once again—the lessons learned from past economic transformations suggest it does not have to be this way.
For example, today it is difficult to imagine that people once blamed the tractor for killing agricultural jobs. In fact, this new machine left an entire generation without work on farms. It also led to the inception of the high school movement, which then led to greater investment in education and ultimately created tremendous prosperity.
FINAL RESULTS
Culture
Will automation destroy more jobs than it creates?
A festive crown for the winner
#FutureIsJobless
#HumansWillAdapt