What seemed like science fiction up until a few years ago is now already becoming a reality, staring into our faces. We spent so much time debating when it will actually happen, we couldn’t realise that it has already started until implications presented themselves.
I am talking about automation, of course, brought to us by the recent giant leaps made in the field of robotics and AI. It is as if the fields didn’t even exist before 2010 and now suddenly they are here, ready to be deployed!
Usually, when I talk about advancements in any technology, I do it with excitement and a positive outlook, but today, the topic at hand is such that my tone will be a little cautious with a hint of concern.
So, what is it about automation technologies that has prompted people all over the world to speculate “a new future”? A future akin to a dystopian one showcased in some of our favourite movies.
The Rise Of The Machines
When I say ‘the rise of the machines’, I do not mean it as in the Terminator movies. No, there are no killer robots out and about looking for you to terminate you.
The rise of the machines is in reference to the recent advancements in robotics and especially AI (Artificial Intelligence). Slowly but surely, they have made a ton of progress and now, are at a stage at which they are ready for some real world applications.
You might have read about Ross, world’s first AI lawyer who was hired by the law firm Baker & Hostetler. That’s right, a software is now a lawyer and will be undertaking actual real life cases.
Also, just recently news surfaced that Apple manufacturer Foxconn intends to fully automate its factories. That means, robots will now handle the task of manufacturing various electronic devices.
Also, just yesterday, another news surfaced about a Japanese insurance firm Fukoku Mutual Life. The firm reportedly wants to replace 30 employees with an artificial intelligence system.
The Implications
The advantages of automation are quite obvious. Robots can certainly be better at different tasks since they would be specifically built for that purpose. They could prove to be more effective and efficient plus they are a more cost-effective solution for companies.
The Japanese firm predicts that it will save approximately $1.2 million in expenses by replacing humans with AI. Also, robots in manufacturing plants can work 24 X 7 and companies do not have to give them any perks as well.
But while these solutions are beneficial for corporations, it has a drastic impact on the human workforce. Due to more and more automation, millions of people stand to lose their jobs. If unchecked, in the future, that number might rise to billions. This is a very serious issue.
This could have impacts on the economy that we could never even have guessed. A large portion of unemployed people in the society means purchasing power would plummet and you know what happens next. The economy will implode and it will cause a global panic.
So, the very thing that helped corporations (to save money) will come back to haunt them when people won’t be able to buy their products. It’s a cyclic effect.
So, What Are We Doing About It?
Fortunately, saner heads have prevailed and we have already recognised this problem at its dawn and are looking for creative solutions that will help curb the problem of mass unemployment.
One thing of importance is that we should realise that we can’t stop technology. It would be like trying to stop a river. So, there is no stopping the growing use of automation. Therefore, we need to find other ways to solve this problem.
One innovative idea is that of Universal Basic Income. There has been a lot of discussion going on about it and prominent figures agree that in the future, a model of UBI will be the norm in every country.
Basically, UBI is a system in which the state regularly pays you an unconditional some of money, meaning you get paid for being a citizen basically. This will contain the problem of mass unemployment to a certain level until our whole species adopts a different socio-economic structure, one where robots are as common as smartphones.
It is not too far-fetched to say that by 2050, our world may not be recognisable to someone from today. Hopefully we make the right decisions to ensure our survival and not perish at the proverbial or literal hands of the machines.