Almighty Machine, The by Pekka Vahvanen;

Author:Pekka Vahvanen;
Language: eng
Format: epub
Publisher: National Book Network
Published: 2021-12-04T00:00:00+00:00

They Will Take Our Jobs

At the time that I wrote my first piece about advancements in AI, literature offering serious assessments of its decimating effect on jobs was in short supply. Now such sources are numerous. Widely cited research from Oxford University indicates that 47 percent of all current jobs in America could go up in smoke by the beginning of the 2030s. ETLA Economic Research conducted a study using essentially the same methods to arrive at its prediction that a third of all jobs in Finland could vanish in the same period.242

The World Bank says 57 percent of jobs are in danger of disappearing in the next 20 years. McKinsey & Company believes that 5 percent of all professions will be rendered completely unnecessary by 2030, but that half of current work activities could be eradicated if society exploited technologies currently in use or still being tested. A marked collapse in required manpower would bring nearly 15 trillion dollars to companies each year because of the elimination of the need to hand out paychecks. Economists Daron Acemoglu and Pascual Restrepo assert that technological unemployment will deal a greater blow to men than women.243

The economy does not always immediately function on the basis of what is technically possible. The price of labor weighs into the decision about whether to invest in new equipment or pump that money into workers. Many consumers are also wary of machines, especially those allowed to make important decisions or given authority over the well-being of people. Their level of performance is just not necessarily up to snuff for us. It is often a stretch to expect humans to accept the supposed adeptness of even fellow members of their own species. For example, while some might bring to issues of government the most enlightened political philosophy, many would rather vote for a familiar figure in town than place their faith in enigmas with theories.

This mandate for the retainment of a general humaneness slows the onset of automation in nonindustrial sectors. The requirement for the human worker in the service, healthcare, and management sectors will gradually fade as we snuggle up to the assurance that a more active role for machines among us is in our best interest. And why would corporations not deserve 15 trillion dollars of extra revenue?!

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