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Transcript of Technological Unemployment
So why is this a problem now?
Decreases in Job Growth
Who is at risk?
47% of all jobs in the United States are at risk
Should we fight technology?
Makes physical labor easier and allows a thinking human to extend their physical capabilities
The oldest and most famous type of automation
Prevailing Economic Theory
Over 200 years old
The idea that new technology does not lead to higher overall unemployment in the economy.
New technology doesn't destroy jobs – it only changes the composition of jobs in the economy.
What are the odds?
What is it?
When a worker loses their job due to it being made obsolete by advancing technology.
A Study done at Oxford concluded that with a least 95% certainty that all of those jobs and more would face obsoletion by advances in Artificial Intelligence and upgrades in computer hardware within a decade or two.
AKA :Mechanical Minds
A machines ability to think, and even more importantly to
White Collar Workers
Software Developers creating software bots capable of learning new jobs
Low and Medium Skill Workers
9 of the 10 most common jobs in the US are low or medium skill level jobs.
Up to 23.9 Million of those 9 jobs are likely to be replaced within two decades
Commonly Proposed Solutions
The Loss of Jobs
Job Growth has dropped by over 20% since 1990, marking one of the largest drops in job growth in American History
Job Growth was -1% last decade compared to the 90s growth of 19.8%
Fine corporations for automating jobs
File for Unemployment due to Automation
Examples of Technological Unemployment Now
Amazon eliminated several thousand warehouse worker's jobs and replaced them with over 40,000 drones since 2014.
ATM's have reduced the number of Bank Tellers by 13.2% or roughly 80,280 jobs since 2007.
Reward corporations with tax incentives to keep a consistent number of employees from year to year.
Incentivizing companies to move workers around within the company and to create new jobs and expand rather than simply fire them.
Output per Worker is Increasing
Productivity is increasing rapidly, while employment numbers are decreasing.
Median Income has also not increased, while GDP has risen dramatically.
Foxconn attempting to "replace one million workers with one million robots" and plans to be done by the end of 2015.
What does all that mean?
Given the increases in productivity, decrease in median income growth, drop in job growth, and significant advancements in automation technology in recent years, I conclude that technological advances are a significant factor in unemployment in the 21st century.
By Andrew Katanick
Rotman, David. "How Technology Is Destroying Jobs." MIT Technology REview. Massachusetts Institute of Technology, 12 June 2013. Web. 4 May 2015.
Anthony, Sebastian. "Google’s Self-driving Car Passes 700,000 Accident-free Miles, Can Now Avoid Cyclists, Stop at Railroad Crossings | ExtremeTech." ExtremeTech. ExtremeTech, 29 May 2014. Web
Chang, Andrea. "Amazon Robots Speed Customer Orders but Leads to Fewer Workers." Los Angeles Times. Los Angeles Times, 2 Dec. 2014. Web. 9 May 2015. .
Young, Angelo. "Nike Unloads Contract Factory Workers, Showing How Automation Is Costing Jobs Of Vulnerable Emerging Market Laborers." International Business Times. International Business Times, 20 May 2014. Web. 9 May 2015.
Jerving, Sarah. "Bank Tellers Battle Obsolescence." WSJ. Wall Street Journal, 17 Nov. 2014. Web. 10 May 2015.
Brynjolfsson, Erik, and Andrew McAfee. "Race against the Machine: How the Digital Revolution Is Accelerating Innovation, Driving Productivity, and Irreversibly Transforming Employment and the Economy". Lexington, Mass.: Digital Frontier, 2012. Print.
Muellhauser, Luke. "How Big Is the Field of Artificial Intelligence? (initial Findings) - Machine Intelligence Research Institute." Machine Intelligence Research Institute. Machine Intelligence Research Institute, 28 Jan. 2014. Web. 10 May 2015.
https://www.youtube.com/user/CGPGrey - "Humans Need not Apply"
Technological Unemployment is happening now
Advances in Automation Technology as well as economic changes in recent years are causing Technological Unemployment
Technological Unemployment is going to dramatically increase over the next 20 years due to advances in automation technology
We should not fight technological progress
We need to be informed, and push our representatives to look into technological unemployment and proposed solutions
What can you do?
Write to your state representatives about Technological Unemployment
Frey, Carl, and Michael Osborne. THE FUTURE OF EMPLOYMENT: HOW SUSCEPTIBLE ARE JOBS TO COMPUTERISATION? Oxford: Oxford, 2013. Print.
Regalado, Antonio. "Is Google Cornering the Market on Deep Learning?" MIT Technology Review. Massachusetts Institute of Technology, 29 Jan. 2014. Web. 11 May 2015.