If you haven’t seen the TED Conference video by Andrew McAfee — it is though-provoking. He asks the question “What will humans do when machines flood the workforce?”.
- In the coming future, robots and similar technology will replace humans in many jobs.
- These changes will bring economic and social benefits. Relegating the dull, tiresome manual work to machines will free people to take on intellectual and innovative tasks.
- However, financial disparity could worsen among society. In economies where machines proliferate, corporate profits rise while people wages fall.
- Such polarization will have immense social impact and risks reversing the gains of the civil rights movement could be seen.
- The “economic playbook” is clear, especially in the short run. Addressing the social fallout requires a lot more study but will necessarily involve changes in our educational system.
Education and entrepreneurship remain key.