Within the next few decades over 52 million American jobs will disappear due to automation. Robots and A.I.-enabled technologies will replace human beings in almost every kind of job imaginable. This is not happening by accident but by calculated design. Within the next half decade, over 60% of all businesses will convert over to some level of automation. The United States itself is investing $700 billion in automation and robotics innovation.
No job will be safe. The first jobs to be automated, entry-level, low-skilled, and low-paying jobs, are already being slowly automated before our eyes. Self-serving kiosks in supermarkets, movie theaters, and transportation hubs are already replacing cashiers, ushers, and clerks. Jobs historically held by minorities may be among the first to go too. However, human job obsolescence will occur in waves. Automation cares not for human ideals of class, race, or status.
There are robots that will replace human doctors being beta-tested and perfected right now. Human lawyers make about $142,000 a year, while human surgeons make about $252,000. Robots will take over these roles in less than 50 years. The Associated Press has been using A.I. and algorithms to write finance and sports articles since 2015. Even my job won’t be safe forever.
What will human beings do when there are no more jobs?. No one has the answer, but Universal Basic Income may act as a temporary stopgap.
Universal Basic Income
A universal basic income is a recurring cash payment that is given to a person regardless of status, race, or ability to work. A government subsidized income to help all maintain life was first theorized in the 16th century. Universal Basic Income was the inspirational underpinning for the American social welfare programs that were legislated in the 1960s.
Countries and cities all over the world have been experimenting with Universal Basic Income for decades. Universal Basic Income test trials are occurring in India, Finland, Scotland, Canada, and numerous other countries right now. Right now, in Stockton, California, the local government is conducted a Universal Basic Income experiment with select citizens and giving them $500 a month for a limited time.
UBI Critics
The Universal Basic Income experiments of today are just experimentation of theory. To see if poverty and inequality access to opportunity can be affected. Will Universal Basic Income allow people the ability to live and inspire them to look for work? Some critics think not. Also, maintaining Universal Basic Income Payments may cost as much as $4 trillion dollars every year.
Some technology moguls believe that Universal Basic Income may act as a temporary reprieve for human beings as they watch automation take over every job in every industry. No one knows what human beings will do when there are no more jobs. Universal Basic Income payments of $500 or $1,000 won’t last forever either when automation fully takes over human jobs.
The automation of today is still in the planning, beta-testing, and early stages. Human beings are still needed to oversee and manage the automation of today. That won’t be the case in a few decades. Your job is safe, for the moment. In 30 or 50 years however, a Universal Basic Income might be the only income you can depend on during the rise of the robots.
Read More
Jobs That Will Be Taken over by A.I. in the Future
Using Automation To Streamline Your Finances
Allen Francis was an academic advisor, librarian, and college adjunct for many years with no money, no financial literacy, and no responsibility when he had money. To him, the phrase “personal finance,” contains the power that anyone has to grow their own wealth. Allen is an advocate of best personal financial practices including focusing on your needs instead of your wants, asking for help when you need it, saving and investing in your own small business.