Winner of the Nobel Prize for his work on health, wealth, and inequality, economist Angus Deaton says that robots will be a far greater threat to employment than sending jobs overseas. In the video above, in a June 1, 2016 townhall meeting, President Obama explains what the employment landscape of the near-future will be like.
Obama's White House warned on Thursday that advances in artificial intelligence and robotics have the potential to wipe out millions of jobs in factories and industries like trucking, potentially increasing inequality.
The World Economic Forum (WEF) predicted a "Fourth Industrial Revolution" at the start of this year, as automation and robotics transform the global economy and the way we work. WEF expects 5 million jobs to be destroyed by 2020 by the trends. An in-depth study by Citi and Oxford University also found that 77% of all jobs in China are at risk of automation and 57% of all jobs across the OECD.
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|“This 160-step biochemical process is very well studied, and surprisingly inefficient.”|
|“During this phase of decline, the US was likely to go through a phase of reactionary 'fascism'.”|
|“Eliminating the time needed to stop and re-charge a conventional electric car’s battery.”|
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|“Our Internet handlers, not government, are using operant conditioning to modify our behaviour today.”|
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|“We’re going to start to see chip implants get the same realm of acceptance as piercings and tattoos.”|
|“Within 30 years, half of humanity won't have a job. It could get ugly — there could be a revolution.”|
|“The shift from fuel and pistons to batteries and electric motors is unlikely to take that long.”|
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|“After 78 years, the helicopter has been reinvented.”|
|“The algorithm chose; Max attended.”|