The Approaching Quantum Leap in Computer Technology
Posted January 23rd, 2017
The pace of technological change is accelerating. In fact, many experts tell us that we are on the verge of a quantum leap in computer technology where we will be able to create machines that can actually think. It’s called artificial intelligence.
Job Disruption
And, according to business experts, this leap will also have huge impacts for business and workers. In fact, one study by Oxford University is projecting that countries could lose almost half of the jobs currently in existence by about 2040. These jobs will be taken over by robots and other machines using artificial intelligence.
And no job is safe. Up to this point, mostly blue collar jobs have been affected by technology, but increasingly, white collar jobs will be affected also. This trend will change the way people think about jobs and work, and the trend is irreversible.
This trend will also be more disruptive than technological changes in the past. In the past, when new technology took away some jobs, it created others – if a machine took over the job of a weaver, it also created the need for a technician to service the machine.
But things are different with artificial intelligence – it will take away many jobs performed by humans without creating any new ones. And this new technological leap is likely to be particularly hard on the middle class. The new technology will be able to do the work of accountants, doctors, lawyers, teachers, financial analysts, and bureaucrats more cheaply and efficiently.
What Can Be Done?
Some business analysts foresee countries with unemployment rates ranging from 25 to 35 percent, and governments are not prepared for it. What can be done about it? There are range of options being suggested – overhauling the education system to give people new skills, retraining middle aged workers, internships and apprenticeships among them. These re-education programs could help people with new endeavors, possibly starting new businesses, or free them up to pursue more creative projects.
As with any economic upheaval, there will be winners and losers. The new technological trends have within them great possibilities for good with the advancement of human civilization, but also for ill, leading to great displacement. What is clear is that developed countries need to be paying more attention to these paradigm shifting changes.
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