Several days ago The Guardian reported that "Insurance firm Fukoku Mutual Life Insurance is making 34 employees redundant and replacing them with IBM’s Watson Explorer AI". To read more, click here
20 years ago para-legals became redundant in most of the developed world. The work went to PHD's in Manilla. 30 years ago there were fewer IT jobs as companies outsourced to India. A while later as salaries in India rose, Indian companies outsourced to sub-contractors in China and there were fewer IT jobs in India. The same senarios occured in Accounting, Graphic arts & Technical design. At least people were involved in these transitions. Now, in the near future many occupations will be replaced by AI - people on the ground will be few.
So what will happen to all the displaced (unemployed) people. Retraining? Retraining in what!
20 years ago para-legals became redundant in most of the developed world. The work went to PHD's in Manilla. 30 years ago there were fewer IT jobs as companies outsourced to India. A while later as salaries in India rose, Indian companies outsourced to sub-contractors in China and there were fewer IT jobs in India. The same senarios occured in Accounting, Graphic arts & Technical design. At least people were involved in these transitions. Now, in the near future many occupations will be replaced by AI - people on the ground will be few.
So what will happen to all the displaced (unemployed) people. Retraining? Retraining in what!
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