Machines Are Going To Perform More Tasks Than Humans By 2025 (cnbc.com)

In less than a decade, most workplace tasks will be done by machines rather than humans, according to the World Economic Forum's latest AI job forecast. From a report: Machines will overtake humans in terms of performing more tasks at the workplace by 2025 -- but there could still be 58 million net new jobs created in the next five years, the World Economic Forum (WEF) said in a report on Monday. Developments in automation technologies and artificial intelligence could see 75 million jobs displaced, according to the WEF report "The Future of Jobs 2018." However, another 133 million new roles may emerge as companies shake up their division of labor between humans and machines, translating to 58 million net new jobs being created by 2022, it said. At the same time, there would be "significant shifts" in the quality, location and format of new roles, according to the WEF report, which suggested that full-time, permanent employment may potentially fall. Some companies could choose to use temporary workers, freelancers and specialist contractors, while others may automate many of the tasks. New skill sets for employees will be needed as labor between machines and humans continue to evolve, the report pointed out.

Comments

Re:I'm surprised it will be that long

[ThosLives]

Our economic system is based on the concept that a human who wants to work can find a job.

Which economic system is that? I can't think of any economic system based on that premise in all of history. People who want jobs but don't have them have been around for as long as there has been a concept of a "job."

The situation full automation brings into light is that the concept of ownership and the rights to profits of use of capital is breaking down. If human labor is not required to make productive use of capital, then labor cannot be the source of wage. The social upheaval will be because currently only money can be used to gain ownership of capital, and if you have no capital and nobody will give you money for labor, there is no longer a mechanism to gain capital.

This means either forcing a (larger) portion of the productive use of capital distributed to more non-owners (let alone employees!), or reducing the concept of private ownership of capital. Either of those would be a tenuous transition, if for no other reason that people are not used to anything else.