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Wednesday, January 20th, 2016

Rise of the Robots Will Eliminate More Than 5 Million Jobs

Author:     Jill Ward
Source:     Bloomberg Business
Publication Date:     January 18, 2016 — 3:06 AM PST
 Link: Rise of the Robots Will Eliminate More Than 5 Million Jobs
Stephan:   The confluence of genetic engineering, artificial intelligence, and robotics is on the verge of  changing the most fundamental social contract of employment. To understand the implication of this mix one must also add the failure of American education to educate the youth of today -- we rank 14th -- and the fact that 50% of the U.S. population has an IQ of 98 or less -- Americans as a whole rank 9th in the world. What's the net-net? The days when a highschool graduate could get into the middle class are gone. Even college graduates are going to have a tough time. All this taken together and you have a recipe for the collapse of employment and the final collapse of the U.S. middle class. The Neo-feudalism Trend is coming to our lives like an onrushing train. Welcome to the world of peasantry.

Robot from The TerminatorOver five million jobs will be lost by 2020 as a result of developments in genetics, artificial intelligence, robotics and other technological change, according to World Economic Forum research. (emphasis added)

About 7 million jobs will be lost and 2 million gained as a result of technological change in 15 major developed and emerging economies, WEF founder Klaus Schwab and managing board member Richard Samans said in “The Future of Jobs.” The findings are taken from a survey of 15 economies covering about 1.9 billion workers, or about 65 percent of the world’s total workforce.

The blurred lines between physical, digital and biological spheres amount to a Fourth Industrial Revolution, according to the WEF, which will address the idea as the idea at its annual meeting of policy makers, academics and economists in Davos, Switzerland. It’s already a hot topic thanks in part to books such as ‘The Second Machine Age’ and ‘The Rise of The Robots,’ while Bank of England Chief Economist Andy Haldane […]

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2 Comments

  1. Michael on Wednesday, January 20, 2016 at 6:02 am

    This recent report doesn’t help the situation. A survey reported that 10 percent of American COLLEGE graduates believe Judge Judy sits on the Supreme Court. Katy bar the door!!

  2. Steve Hovland on Wednesday, January 20, 2016 at 9:03 pm

    Both Robots and AI have been around for years without taking over. There are no facts about the future.