Millions of people will lose their jobs. Entire professions will be destroyed. Workers with obsolete skills will struggle to find employment. These fears have been felt with each new technological development throughout human history – the invention of the car, automation in factories, computers small and powerful enough to be used in the workplace.
Even someone rooted in technology – Bill Gates – mused recently about introducing a tax on robots to compensate for the loss to human jobs by the rise in artificial intelligence (AI). It seems that, like Frankenstein, we’re still afraid of being destroyed by the monster we created.
Of course, we can’t overlook the impact of AI on jobs. The World Economic Forum (WEF) forecasts five million jobs will be lost before 2020 as AI, robotics, nanotechnology and other socioeconomic factors replace the need for human jobs.