Over the last century blue collar workforce has always taken the loss from automation that came in waves. But now the upcoming automation is big with all the advances in AI/ML/Tech which will make white collar workforce too jobless. Estimation of its impact is quite varied depending upon the study but impact on a LOT of future jobs is for sure coming. A few estimates to get a sense of what to expect:
- Oxford study estimates 45+% of US workers will see the impact
- McKinsey estimates 60% of jobs will have 30% of their processes automated
- Bruegel analysis estimates 54% of EU jobs could be computerized
There are so many studies and it is hard to keep track but no worries, MIT Tech Review, collates & summarizes various studies. As these estimates suggest we could see massive unemployment and will cause societies with wider income inequality. Income inequality will break down the societies, create a chaotic war zone type of living, as the unemployed will have to resort to stealing and violence.
Automation over the past decades, have also created several new jobs and this wave also might do so. I am not interested in debating the argument of whether it will or not. Instead, I prefer the population prepares for the worst of what is coming, which includes developing the mindset of lifelong learning and focusing on tackling current challenges, while developing skills that are irreplaceable (at least at this time), for example: developing soft skills & possess emotional IQ, to serve the role. This strategy will give a good chance of getting a job and surviving the automation destruction. But, I think we have to collectively work & try to solve as many problems as possible before we reach the unemployment nightmare. I personally believe everyone of us, if capable & possible (next gen college kids are best suited), have to look beyond getting a job and create jobs! Find & pursue a problem in an area of your passion. Go tackle a #ProWoSo.
[Image Credit: Thanks to geralt via Pixabay]
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