The Automation Challenge
The rapid advancement of artificial intelligence (AI) is poised to disrupt the job market in unprecedented ways. As automation and AI-driven technologies continue to replace human labour, the skills gap is widening, leaving many workers vulnerable to job displacement.
This looming challenge has sparked a growing discussion around the potential role of Universal Basic Income (UBI) as a safety net for those affected by this technological shift. The idea is that UBI could provide a cushion for displaced workers, allowing them to adapt and transition to new roles.
Tune in on LinkedIn here: https://www.linkedin.com/events/aiandubi-afuturetogether7206992463826153472/theater/
Get it on YouTube here: https://www.youtube.com/watch?v=KdRJWNKHizk
Small businesses and ambitious professionals who want more out of life, want a sense of freedom and a secure future, to enjoy what they are doing but the problem will be what it has always been creating a niche or working in a niche that cannot be replicated by AI. Although according to a recent report by Mckinsey AI is more complicated than that and MIT and others had some interesting things to say about AI and UBI.
Read More on this below and do make sure you tune in to our show where Business Expert and Raconteur Steven J. Manning discusses the concept with Ex-IBM Futurist Nathaniel Schooler.,
AI and UBI: A Future Together?
Automation & Job Displacement: Discuss automation trends and potential job losses due to AI and opportunity.
- UBI as a Safety Net: Explore Universal Basic Income (UBI) as a potential solution. Mention ongoing pilot programs
- Workforce Reskilling: Discuss the need for reskilling initiatives alongside UBI. Mention studies by organizations like the World Economic Forum or articles on future job trends (e.g., Forbes).
- Economic Shift: Explore how UBI could stimulate the economy.
- Ethical Considerations: Discuss the ethical considerations of UBI implementation. Include perspectives from social policy experts and articles on ongoing debates. What does this do to people’s motivation to work and does that return after they are bored.
Climax foods are doing something amazing with vegan cheese creation using AI, their CEO is Ex-Google head of Data Science Oliver Zahn so clearly, they have an idea that it is all about the data, however it doesn’t mean they will not use humans, far from it, it just means that the process of NPD is much faster than ever before.
Jonathan McIntyre, a food consultant who formerly headed R&D teams in both beverages and snacks at Pepsi, thinks the technology is “significantly” overhyped as a tool for his field. “AI is only as good as the data you feed it,” he says. And given how jealously food companies guard formulas and proprietary information, he adds, there won’t necessarily be sufficient data to yield productive results.”
McIntyre has a cautionary tale: during his stint at Pepsi, the company attempted to use IBM’s Watson to create a better soda. “It formulated the worst tasting thing ever,” he says
But IBM has been doing so many great things especially with Watson at Wimbledon which I can attest to as I have seen it.
The way that people are becoming hugely more productive at work is amazing, from being able to create cartoons to obviously writing blogs etc these jobs are being affected by AI dramatically in terms of the sheer speed that it can do their jobs with them.
AI advancements are a double-edged sword. While automation can boost productivity, it also threatens widespread job displacement as people cannot upskill fast enough. Universal Basic Income (UBI) could be a safety net in this scenario.
- Increased productivity: AI can automate tasks, leading to more output with fewer resources.
- Job displacement: AI could automate existing jobs, potentially leading to unemployment.
- UBI as a solution: UBI could provide financial security for displaced workers, allowing them to adapt to the changing job market.
AI advancements add a wrinkle to the traditional view of productivity. Yes, increased productivity from automation can boost a company’s competitiveness and potentially create new jobs in related fields within the business and outside of it. However, AI also raises the spectre of widespread job displacement as tasks become automated. This is where UBI (Universal Basic Income) becomes a potential solution both for upskilling people until they get new jobs and for long term unemployed.
Looking ahead, some propose UBI as a solution for a hypothetical “singularity” where AI surpasses human control. Here, UBI might be essential to ensure basic needs are met even if traditional employment structures disappear. By acknowledging both the potential and pitfalls of AI, we can explore solutions like UBI to navigate a smooth transition into an AI-driven future.
It also can reduce income inequality. May increase voter turnout as large numbers of people from low-income brackets don’t vote.
The security provided by UBI could be critical for facilitating exit options for spouses in undesirable or abusive relationships as it balances the intra-household income.
https://basicincome.stanford.edu/research/ubi-visualization
Mental health disorders are becoming increasingly common in the United States, affecting millions of people and costing billions of dollars annually. While a UBI program alone wouldn’t solve this complex issue, it could potentially improve mental health by reducing financial insecurity and stress. Studies have shown that unconditional cash transfers can lead to reductions in anxiety, depression and other mental health problems.
UBI could potentially increase access to health care services, therefore contributing to healthier communities.
Among supporters of UBI, 80 percent agree with the idea of taxing businesses to fund it. More specifically, they agree with the statement that companies who benefit from the adoption of AI should pay for a UBI for those displaced by this economic shift (Gallup and Northeastern University, 2018).
While every major technological change throughout history resulted in job loss and workers’ displacement, the long-term demand for labour remained constant or even increased over time (Ford, 2015; Stern, 2016).
In this case, we should anticipate large disruptions in the short-term, and overall stabilization in the long-term. If the current wave of technological changes indeed resulted only in short-term job loss, it might still take time for the economy to adapt to these changes, and many individuals and communities will find themselves on the losing end of those changes (since 2000, automation has already contributed to the elimination of millions of manufacturing jobs in the United States). In this case, UBI may prove a critical means to smooth the transition (McKinsey Global Institute, 2017; Walker, 2016).
AI could lead to a rise in the “gig economy” with more people relying on temporary, insecure jobs. UBI’s unconditional nature could be a better safety net for these workers in a changing labour market.
Many companies struggle with creating the right content. AI writing tools and content creation tools have amplified this. Enough companies do not differentiate between the utilitarian need for all manner of AI and the window dressing they feel they must have.
What do we provide our clients? Well, some of that follows:
Content Production for Forward Thinking Brands and Ambitious Individuals.
Podcasts, White Papers, Deep Dive Industry Reports, Explainer Videos.
Whether it is a white paper, a deep dive industry report or an explainer video or podcast, Manning and Schooler will give you custom generated, hard-core information and guidance.
Do you have an audience? We will provide you with all you need to tell your story to captivate and entice your audience to insure that they understand who you are, what you do and why they should pay attention to you. And, of course, buy from you. Remember a Manning-ism: “Nothing happens until you sell something!”
If you would like more, to the point, no frills and usable implications and reality of AI, Steven J. Manning and I are creating industry specific reports and white papers on much of the breadth of the massive AI topic. Of course, the big pink elephant in the room, how AI will affect your job and industry moving forward.
Contact Nat on LinkedIn or on contact@legacymediahub.com if you would like us to tailor something for you specifically.
Originally posted here: https://influentialvisions.com/ai-and-ubi-a-future-together/