More than 70 percent of manufacturing jobs and more than half of jobs involving data collection might be rendered obsolete by automation and robots, according to a report from McKinsey & Company.
One study estimated up to 80 percent of current jobs may be threatened by automation, which could become a critical economic issue for policy makers and global leaders in the coming decades.
While Americans celebrate Labor Day weekend, it is a good time to contemplate the rise in artificial intelligence and how it can threaten jobs in all types of industries.
Driverless cars are expected to exponentially grow in popularity, as developers and eager Silicon Valley firms work out the kinks of automated cars. In the not too distant future, ordering pizza might involve delivery via drone or self-driving car.
China’s manufacturing hub is a prime example of where technology threatens factory jobs. An electronic manufacturer in the area recently cut 60,000 jobs, and replaced the workers with robots. The South China Morning Post reported that as many as 600 other manufacturing companies are planning similar moves to reduce human capitol.
The transportation sector is also threatened, due to driverless cars and trucks, according to economic experts. While accounting and financial advising are two other ares where computers and advanced algorithms may squeeze out traditional human advisors.
The globe is going through the “greatest reshuffling of individual incomes since the Industrial Revolution,” according to a report released by economists Branko Milanovic and Christopher Lakner.
Their report found that while the top 1 percent has seen large income gains, those in the 80-85 percentile of the global charts did not realize any real income growth. Emerging markets, like India and China, experienced massive growth in their middle classes, which appears substantial, as many of these people have been lifted out of poverty by industrialization.
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