“ the looming technology tsunami that will hit the U.S. job market over the next five to 15 years and likely destroy tens of millions of jobs due to automation by artificial intelligence, 3-D manufacturing, advanced robotics and driverless vehicles — among other emerging technologies. The best research to date indicates that47 percent of all U.S. jobs are likely to be replaced by technology over the next 10 to 15 years, more than 80 million in all, according to the Bank of England. Jobs at risk include a diverse range of service and professional positions. Retail and fast-food jobs will be almost entirely automated. Manual laborers and construction workers will be replaced by robots; long-haul truck drivers by self-driving trucks; accountants, clerks, paralegals, telemarketers and customer-service reps by artificial intelligence; and security guards by robots and drones. Even professionals in the fields of accounting, law, finance, consulting, journalism and medicine are at risk of losing their jobs to smart machines” Writes economist and business professor in one of his columns in WP.
The well-paying job situation is already so dire that the public is willing to elect demagogues who are selling them nothing more than a snake oil. Despite all the threats, bullying, and shouting insults at Mexico and China, the effect of policies on well-paying jobs will be marginal. Just focusing on job loss to developing countries and tearing up global agreements will not do it.
If current job loss is creating such a chaos and havoc, it is going to get worse, and imagine what it will be like in next few years. It is a critical time to come up with a plan and policies that will seriously address the jobs loss in the new automated age.. To make matters worse, we are electing leaders at this crucial juncture, who seriously lack the foresight and wisdom to address this core problem. We are already way behind the curve, and we have not even started seriously addressing the core issue of loss of jobs due to advanced technology, especially automation. It has already created a significant portion of population, which is permanently either unemployed or underemployed. Rather than focusing on the underlying causes, we are scapegoating immigrants and greedy corporations as well as wall street is happy to finance this diversion.
In this coming fully automated age, the underdeveloped countries may fare better, as their labor may still be cheaper than installation of expensive automated machinery especially in service industry. They will still be manufacturing cheap products that West and its increasingly poor population will need to survive. It may impact immigration patterns also, decreasing immigration to West and increasing reverse immigration to the underdeveloped countries.
F. Sheikh
