One of the scariest question related to the future is- are we heading towards the Future with any jobs? The remarkable advancement we can see in the technology like the self-driven cars works like an explosion in regard to this particular question. The fear of automation associated with places of work is likely to workers and potentially will sooner or later lead to leads of unemployment that might go back to minimum 200 years that people had in England. Since then this concern is coming up again and again. Many of the people might not have heard about the triple revolution report and is really a very prominent report that was discovered by a very talented group of people. This report was later presented in front of the president of the United States in accordance to present the serious economic crisis that we might face in the near future due to the hi-tech and advanced application of the automation.
Usually, it has ever been a false alarm, but yes, technology is growing fast but the fact associated with it is the loss of jobs and a serious economic crisis.
The new jobs and industries that would be created would be more engaging and safer and comfortable. But is one particular class of workers for whom this story might sound quite different. These workers are facing a severe economic crisis as the advancement of technology is actively discriminating their work and has seriously disseminated their worth as well. Not only this, the advancement is also blocking channels of new opportunities to work.
Now, you might wonder who these workers are?
These workers are, of course, the horses!
The U.S. Population of horses in the year 1915 was 22 Million and that fell down to 9 Million by the year 1960.
Here arises a very proactive question!
Is it possible at some point in the future that the fraction of the human workforce may work in the way the horses worked?
The very genuine reaction that comes up with this is- how can one compare the Humans with the Horses! As we think that the horse is being used with trucks and cars and more. Humans, on the other hand, are intelligent, as we can learn, we can adapt and we can always find something new to do and that we can acknowledge to the future economy.
But here is something much critical to understand, the machines that are threatening a worker’s future are not obviously the cars, trucks, and trains instead the future would be full of thinking learning and adapting machines. Moreover, the machines are approaching human’s fundamental capability; the thing that makes us so different from the horses is somewhere now in the form of machines is becoming indispensable to the future economy.
What is making Information Technology different?
So, what is it that is making today’s information technology so different from the one that we have seen in the past. Here are three fundamental things:
- The exponential Information
- Cognitive Capability
- Consumers
The question that now arises is:
What can we do about Future?
Many people would face the problem of sufficient income and in accordance with overcoming this, we can find a way for deeper income in the best traditional way like some of the guaranteed income or some kind of basic income for all. The basic income is now becoming one of the greatest ideas and a lot of experiments are being run on basic income. But this basic income is not a solution like a plug and play rather its an idea that we can build on and we can find. One of the solutions that could be applied to the basic income is the addition of explicit incentives into the basic income.
By adding explicit incentive to the basic income we can help in making it look better that will make it politically and socially acceptable and feasible and by doing this we are increasing the income of a worker.