Ariel
@Prolotario1
Man vs Artificial Intelligence:
Unemployment is hovering around 50%. M--------------a will never give real figures on anything. What’s the cause? AI. A Indian CEO start up company laid off 90% of his staff for a Chat-Bot.
• MSN
• Google
• Dukaan
• Ikea
• BlueFocus
• Salesforce
• Duolingo
• Sony
All of these companies replaced the majority of their workforce with AI. They have cut cost and increased revenue by millions as a result. All without losing any sleep. Video game companies are no different. British telecommunications company BT plans to cut around 55,000 jobs by the end of the decade and replace around 10,000 of these roles with artificial intelligence. Tech giant IBM plans to gradually replace around 30% of its back-office roles with artificial intelligence within the next five years, equating to around 7,800 positions overall. People this will nit be reversed. This will not slow down. This will continue well into the next 5-10 years. AI is going to make companies billions more in revenue while doing the least work and paying the lowest cost. The incentive is very strong here. This is the main driving force behind all the layoffs you are hearing about on the news. Especially when you consider that some companies did financially well and are still cutting jobs for some strange reason. Well now you know. People on governments assistance are going to skyrocket. Because given their expertise in certain fields of technology companies are not going to be quick to hire people who worked over 10 years in that sector. They can justify why they no longer need them with numbers on financial sheets to prove it. What are some solutions to this issue?
1. Monitor impacts across demographics and geography for targeted intervention where needed. Some communities will likely be disproportionately affected.
2. Incentivizing innovations that create new jobs and opportunities rather than just displace them. Tax credits or public-private partnerships could help.
3. Establishing strong social safety nets, whether in the form of UBI, negative income tax rates, or other mechanisms. This can help support those struggling with job losses.
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4. Exploring reductions in working hours/days. With gains in productivity, maintaining full employment may require spreading available work.
5. Continuous education and retraining programs sponsored by both industry and government. But who in the world trust J. Biden to dip his toe in this matter? Local government is key.
People we are living in an age like no other. The technological emerging market is changing the entire landscape of industries across the planet. There’s only so many solutions available to avoid creating an entirely new homeless population. Especially in California Silicone Valley. I can only imagine the D & I initiatives that are sprouting out. Liberal cities will see the most devastation given the disproportionate hiring process when it comes to minorities. What are we faced with at this time? Mass government aid for people who formerly made a great salary. We are definitely in the end time folks.
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