The day is not too far when Governments across the world may have to think about imposing “AUTOMATION TAX” on companies making huge Automations and Technology Advancements in Artificial Intelligence space and thereby replace human jobs by machines.
Let me upfront tell that I am not against Technology, Automation and Artificial Intelligence (AI). In fact, it is what I have done and continue to do for my own living; However, like a coin has two sides…. I feel Automation has two sides, upside and downside.
The upside of AI & Automation – Brings huge process improvements, repeatability, reliability and low maintenance. Artificial Intelligence technologies can help make breakthrough scientific discoveries and it coupled with Automation can lead to significant improvement in living standards and quality of life.
The downside of AI & Automation – Make human redundant…. simply put more job losses.
Some recent news articles links are evidence of this fact:
Ten million jobs at risk from advancing technology
4 out of 10 jobs will be lost to automation by 2021: Experts
The silent crisis: Why Indian IT engineers are staring at a future of no jobs
What do we do? We cannot stop the wheel of innovation. We embraced the Industrial Revolution and it significantly improved the quality of life. Then came the Digital Revolution and it bought the world closer. Digital Revolution marked the beginning of the Information Age. Artificial Intelligence is a continuum of Digital Revolution and it will change the way we live in times to come and soon it will become part of our day-to-day life. We will have devices, equipments, machines, bots, robots embedded with Sensors and Artificial Intelligence Solutions become integral part of our life just like Mobile and Wifi. We as individuals have no choice but to accept the change – “Change is the only Constant”
The risk of these high-end Technology Advancements and Automation is jobless growth which can potentially cause Socio-Economic Anarchy in the society. As a self-centric individual, the challenge will be to reskill ourselves with changing market requirements. As a government institution, the challenge will be to create new jobs, keep people occupied, provide Social Security Net to everyone and ensure the crime rate does not increase. The government will require deep pockets to support Social Security Program and find ways and means to bridge the widening gap between “Haves” and “Have-Nots”. In India, The ambit of schemes like MGNREGA may have to be expanded to cover Urban areas and Skilled People who become redundant due to Automation…. A few more news links to prove the fact that future growth will be jobless growth are “Driverless Metro Train”, “Aadhar based Account Opening”, “Bots in Banking”, and more
Driverless Metro train on Colaba-Seepz route
How to open a bank account via an app
Soon, bots will assist you in banking
Banks’ AI plans threaten thousands of jobs
As increasingly machines take up our jobs, we must find new avenues to keep ourselves occupied. Governments across the world will have to find new taxes and sources of funds to fund Employment Guarantee Programs and Social Security Programs and one new tax to fund these schemes can possible be is “Automation Tax”
Final Word
Change is the only Constant….so skill and reskill to ensure that you are still employable in future. Feel free to share your comments, like and dislike for the above blog. You can get in touch with me by dropping an email.
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