It seems that these days everyone is afraid of machines taking over their job, and it’s a legitimate fear.
With the ever increasing progress in the development of robots, massive advances in AI and realization that machines can do job quicker, better and cheaper, many jobs are at risk. In his book Rise of the Robots: Technology and the Threat of a Jobless Future, Martin Ford addresses what he thinks the impact of this will be on society.
He firstly goes in to the obvious industries that will be impacted: manufacturing, retail sales and fast food. And then also covers industries you might not have thought about, like information job and white collar jobs, the medical industry and even writers for newspapers.
Ford concludes that the coming robot revolution will have a massive impact on society as we know it. Human beings will not have the disposable income they are used to having as machines will be doing all the work and therefore humans won’t be earning the salaries anymore. This will cause a slump in demand for products and the vast majority of the middle class will only spend money on essential products.
In the following video I summarize exactly what this impact is going to be as well as the possible solution Ford proposes in Rise of the Robots: Technology and the Threat of a Jobless Future.
Robots taking over jobs is definitely something you have to consider and something you have to try and protect yourself against. This is however only one view and many others are convinced that new jobs will be developed that we haven’t even thought about.
It doesn’t matter in which camp you sit, the coming machine revolution will impact you. Whether this is going to be a positive or negative impact is solely going to depend on whether you made yourself ready for it or not.