Fourth Industrial Revolution

       More Letters From Paradise
      Fourth Industrial Revolution

Robots are here, performing tasks which once were done by people. A prime example is the use of robots in the manufacturing of automobiles on the assembly line. The White House economic forecast, predicts that occupations that pay less than $20 per hour are likely to be automated into obsolescence. The first ones to be hardest hit are blue-collar workers and the poor.

Corporations and investors are spending billions-$8.5 last year, on artificial intelligence and robots. Why? Simple answer is that robots need no health plan or pensions. And they can be worked for as long as desired. A McKinsey Company forecast stated that 45 percent of workplace activities today could be done by robots. Some professors argue that there will be 50 percent unemployment in thirty years. What is to be done with these people?

The 2016 World Economic Forum calculated technology will likely destroy 7.1 million jobs world-wide by 2020. And only 2.1 million replaced. What is to be done with all the people without employment? And you thought that we only had climate change to worry about. Technology comes with strings attached.

         Aloha
         Grant