“Automation is going to cause unemployment, and we need to prepare for it.”–Mark Cuban
Back in his early stand up days, Woody Allen had a joke that went something like this. My father came home from work one day and told us he had been laid off from his factory job. He had been replaced on the assembly line by a $50 part. The real tragedy of the situation was that my mother immediately went out and bought one of those parts.
Funny, yes. But the disruption being caused in the workplace by automation and artificial intelligence is not so funny, particularly for the people on the losing end.
Automation/AI induced job loss or disruption–A report in London’s Daily Mail, suggests that we are nearing a tipping point for massive job disruption and loss caused by artificial intelligence and various other forms of automation. While some critics of the employment doomsday scenarios suggest new jobs will be created to replace those lost, the report suggests, at best, there will be a period of painful adjustment.
Almost on cue, Futurism.com reported that another major Silicon Valley executive has come out in favor of Universal Basic Income. Sam Altman, president of Y Combinator, joined the ranks of other major tech leaders, including Mark Zuckerberg and Elon Musk, in supporting the concept of providing everyone in society with an unconditional guaranteed income as insulation from tech-induced unemployment. If you’re wondering how it could be funded, here are some suggestions.
Sharing economy– Services like Uber and Lyft are not exactly automation, but they are empowered by the technologies of the internet and smart phones. Apropos to the two stories above, today’s New York Times reports on economic hardships inflicted on traditional cab drivers by the ride sharing apps.
High speed transport--Move over Elon Musk, China has its own answer to his Hyperloop transport system. China Aerospace Science and Industry announced the planned development of system using maglev technology and vacuum tubes to transport passengers at an astounding 2500 mph.
Meanwhile, India has jumped onto the Hyperloop bandwagon. Hyperloop Transportation Technologies announced it has signed a deal to explore building a system linking the cities of Vijaywada and Amaravati in southeast India. The U.S.-based company already has deals to explore building systems in South Korea, Slovakia and Abu Dhabi.
Autonomous Vehicles– Who says congress is always behind the technology curve. This past week they passed a bill to help facilitate the development and dissemination of self-driving cars. Now if only they’d do something about high school biology students using $50 CRISPR gene editing kits. Pardon the expression, but I guess the squeaky wheel gets the grease.
Coming Attractions–I’ll be attending the Emotional AI summit, hosted by Affectiva at the MIT Media Lab this week. Look for reports and a podcast soon thereafter.
A reminder that the Seeking Delphi™ podcast is available on iTunes, PlayerFM, blubrry , and has a channel on YouTube. You can also follow us on Facebook.
Universal basic income seems like a reasonable solution if automation increases unemployment rapidly enough.
Reasonable, yes. If we can figure out how to fund it. There are several proposals that might be economically viable. But are they politically feasible? Getting there will not be easy.
Finland’s unemployed to be given basic income of €560 per month in first such experiment in Europe
Yes, I have heard about that.