Artificial Intelligence to revolutionise world of work

As "Future Work" (Times leader, February, 15) predicts, advanced automation
will transform employment and society in ways we can only begin to imagine.

Globally, we are now witnessing the birth of the fourth industrial revolution: the
age of accelerating artificial intelligence, of learning machines that possess 
vastly superior cognitive skills to the human brain. They will design and operate
highly-complex nano and macro-technology systems, which will completely
revolutionise and challenge our way of life

Anything that can be systemised will be, the objective being to engineer the cost
of labour out of manufacturing and other processes. The result, as Mark Carey
has said, will be up to 15m job losses, half the UK workforce, including 85,000 public
sector jobs automated by 2030.

Of course, new job opportunities will arise, but not at a rate fast enough to
absorb the huge swathes of displaced employees, not just in low-skilled jobs,
but also in professional employment and this will impact on consumption. The ability
to consume is key to the functioning of a free-market economy and if the 
unemployed are unable to consume, how will taxes be raised to support the
social infrastructure? As your piece points out, the Swiss recently held a 
referendum on whether to introduce a basic wage for everyone, but this
concept seems totally inadequate in addressing what is an existential threat.






























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