THE COMING GLOBAL JOBS CRISIS IN AN ERA OF UNRELENTING ROBOTIC ADVANCEMENTS
UNDERSTANDING ROBOTIC ADVANCEMENTS
Advancements in Robotic technology have reached critical mass resulting in increasing numbers of university programs focused on Robotics. This along with industry adoption rates as a result of labor cost pressures and availability of ubiquitous communications enabling technology like "cloud computing", "bluetooth" and WiFi are fostering new concepts in robotic adoption.
As exciting as these developments are they now come with increasing net loss of jobs. Few have answers to the coming global jobs crisis in an era of unrelenting robotic advancements.
Technology has now advanced where the human characteristics of Seeing, Hearing, Speaking, Touch and the Dexterity of Physical Movement can now be combined into various forms of productive automation.
DEXTERITY (Physical Movement)
What is new is that the human quality of "Synthesis" is being brought to bare with the incorporation of access to data bases and artificial intelligence. This opens up tremendous numbers of new areas of productivity increases as well as job loss.
POST 2000 (TECH) & 2007 (HOUSING) ==> RETAIL & DELIVERY/COURIER
In prior Macro Analytic videos we have discussed the next wave of consolidation coming in the area of Retail. As we spelled out many of those downsized, right sized or outsourced following the Dotcom Bubble and the Housing Bubble collapses found employment in the lower paying but less automated area of retail.
This is about to change.
It will change retail in many areas:
- KIOSKS & VENDING DEVICES,
- CHECKOUT & PAYMENT,
- DELIVERY DRONES,
- SELF DRIVING TRUCKS,
HOW YOU SELECT: KIOSKS & VENDING DEVICES,
HOW YOU TRANSACT: CHECKOUT & PAYMENT,
YOU WILL SIMPLE WALK OUT!
FACIAL SCANNING - SCANNERS - ACCOUNT DEBIT
HOW IT IS DELIVERED: DELIVERY DRONES,
HOW IT IS DELIVERED: SELF DRIVING TRUCKS,
In 1978 the most common job by state was farmer or secretary.
Today it is Truck Driver. Consider also delivery drivers (UPS, Fedex) and Couriers.
This will also soon change with self driving technology.
HOW IT IS DELIVERED: SELF DRIVING TRUCKS
SELF DRIVING COURIERS
INDUSTRIAL REVOLUTION: STOPS CREATING JOB GROWTH & STARTS REDUCING NET JOBS
The problem is that all this change has the potential to stop creating job growth and start reducing NET jobs available - globally!
REACHING CRITICAL MASS
CREATIVE DESTRUCTION VERSUS JOB IMPLOSION
There is little doubt we have already been experiencing this since the internet began to truly "take hold" with "apps" for almost everything anyone can imagine.
WHAT IT MEANS
What these means for the nature of work is that the human attribute of "creativity" will become of paramount importance.
THE FUTURE OF WORK
We discuss in the 06-16-17 Macro Analytics video with my Co-Host Charles Hugh Smith the following possible consequences:
CREATIVITY THE CRITICAL SKILL
REINVENTION OF EDUCATION: FAILURE OF COLLEGES/UNIVERSITIES
ROAD TO SOCIALISM - UNIVERSAL INCOME?