google images
Jobs are going away!!!! This is something that people need to accept as the new reality.
For the past few weeks, I wrote a number of articles mentioning how technological unemployment is something that is quickly approaching. There were more than a couple people who took exception to that claiming, as is often done, that technology always created more jobs than it destroyed. They cling to the belief that this time is no different.
Sorry to burst that bubble but it is. The speed of automation and the pace of progress is so great (and getting faster) that skills are not going to transfer over to the new jobs that are created. Nevertheless, when you are look at a timeline of as little as 5 years, it is impossible for the world economy to generate that many jobs in such a short period of time.
Alas, why should you take my word for it? Instead, let us take a look at what at Deutsche Bank’s CEO views on this. In speaking last week, he expressed the idea that banking and finance are ideally suited for AI/automation. He basically said a "big number" of his people will lose their jobs. He further expanded his view:
“In our bank we have people doing work like robots. Tomorrow we will have robots behaving like people. It doesn’t matter if we as a bank will participate in these changes or not, it is going to happen.”
Blockchain, smart contracts, and AI are all teaming up to wage an assault on the financial/legal sector and the jobs that go with it. According to the linked article, the financial sector makes up 3.1% of the UK workforce and estimates are that 50% of these people could lose their jobs in as little as 5 years.
This is what is going on out there folks. When the head of one of the largest banks in the world says he expects his workforce to be decimated by automation/AI, perhaps we should heed his warning. Sadly, for the workers of the world, he is not the only one discussing this.
As always if you like, upvote, resteem and email it to your Aunt Sally.