Permanent Job scaring or AI taking over

[Yodean]

North American companies boosted spending on industrial robots in the first quarter as they scrambled to keep up with surging demand in the wake of the COVID-19 plandemic.

Companies ordered 9,098 robots in the first quarter, a 19.6% increase over a year ago, according to the Association for Advancing Automation, an industry group based in Ann Arbor, Michigan. The orders were valued at over $466 million in total.

Robots were once concentrated in the auto industry but are now moving into more corners of the economy, from ecommerce warehouses to food processing plants. For the first time last year, most of the robots ordered by companies in North America weren't destined for auto factories or their parts suppliers.

The strongest growth in the latest quarter was to metal producers, where orders surged 86%. Orders to life science, pharmaceutical and biomedical companies rose 72%, while orders to consumer goods companies increased 32%.

Burnstein said the plandemic froze many businesses, as operations shut down to protect human health. "But ultimately it accelerated the adoption of automation, because companies recognized if they were going to do it, now would be the time."

https://www.kitco.com/news/2021-05-06/N ... emand.html

[SOL]

And once a trend starts it's unstoppable. As more companies embrace robots and AI, they will start to wonder why they ever dealt with pesky humans that complain, take off whenever they want, et, etc.

Now fast forward 10-15 years where a massive portion of the jobs will be automated. What happens then? cost drop drastically and it becomes infinitely easier to service and maybe even pay off all the debt they took on. This can be applied to all sectors of the economy. So maybe just maybe, companies are borrowing money like and hell and governments are printing like hell because the future world will be run so efficiently that it will be easy to take care of all this debt. The most expensive part of any company is the human component and the same applies to most governments. If AI replaced just 50% of the workers in government corruption would drop significantly and efficiency would improve by a factor of 10.

[MarkD]

Replacing 50% of the goverment workers is not the only problem. You need to get rid of 100% of the "Beltway Bandits". They have come to be a greater source of inefficiecency as they do work federal government employees are unable or unwilling to perform. So I would add that AI needs to replace them as well.

[AstuteShift]

Replacing 50% of the goverment workers is not the only problem. You need to get rid of 100% of the "Beltway Bandits". They have come to be a greater source of inefficiecency as they do work federal government employees are unable or unwilling to perform. So I would add that AI needs to replace them as well.

Government employees (not all but most) will be replaced and watch the corruption eventually will fall. Once AI gains singularity , probably in the distant future, we will be living in a new dawn.

So those Sci fi shows are pretty handy research to show what will come

[Yodean]

[SOL]

Job scarring is always due to new technologies so it's probably being led by AI. With workers demanding more money, big companies will look for ways to get rid of the carbon factor. Yes, many of these workers do deserve better pay but one should not focus on raising a family on minimum wage jobs. Minimum wage jobs are places where you start not the end of the journey. Big corporations are only beholden to their share holders and their shareholders focus on profits, So it's a vicious cycle, higher wages will lead to more automation until the only option will be universal income for those that simply refuse to think out of the box and as nothing is free, that universal income will come with a host of strings.