The Economy of Automatic for the People

in LeoFinance2 months ago

For a long time, I have been interested in the social and economic ramifications of advances in Artificial Intelligence technology, as it is going to radically change the employment market and is doing so as we speak. The decline of opportunity in many job sectors of the last decade or two isn't because "they are stealing our jobs" - it is because automation means that the jobs are being done by an "it" not a person at all.

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I was reading an article that was saying that by 2030, an expected 1.5 million jobs will be lost to automation, especially the jobs that are structured and process based, which is a lot of the administrative work. However, jobs that require interpersonal relationships to effectively perform, will likely survive for some time to come, although even in this area, the AIs are getting to be better communicators, especially since a lot of the interaction is increasingly done digitally, not face to face. I would suspect that many people are starting to interact with chatbots without acknowledging they aren't people.

However, there will be new jobs and the article, although mainstream and basic in my opinion, did give a decent general overview of what could be to come and the potential growth areas, which gives an indication of where people should be focusing their efforts for employment.

The next few years will see an increased demand for workers with more advanced digital skills, including technical specialists with skills in big data, process automation, robotics engineering, blockchain and machine learning, which will offset the more traditional technology roles that can be fully automated.

As you can see, the future jobs are the kinds of jobs that will increasingly make the legacy jobs obsolete and what is interesting is that blockchain is mentioned here, even though blockchain isn't yet mainstream. Crypto isn't mentioned, but the two go hand in hand, especially when considering that there is an expectation that one in three jobs will be in the online gig economy, which will have to be driven by digital currencies for practical reasons, including the rise of automation and the need to reduce transaction costs.

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The driving narrative is an echo of the messaging being pushed out by the World Economic Forum's (WEF) "Great Rest" story, being pushed all over the pace, something I wrote about last year and might be worth a read for those interested in the potential of the future of what has been labelled "the fourth industrial revolution", which is the automation of activities.

The unceasing drive toward digital economies is going to create a large opportunity for many people who have been unable to get a foothold into the current economy due to a variety of reasons, to start building. However, it is going to largely require individuals to act for themselves and build skills and relationships, as institutional and government programs will always be lagging somewhat behind the curve. The world economy and employment opportunity is changing so rapidly, traditional education systems will continually fail and those who rely on it, will fall through the widening cracks, creating large financial and social gaps. The divide between the analogue and the digital worker will grow and this will have large social consequences, some of which we are already seeing as manufacturing jobs disappear in.

For a long time, I have considered participating on Hive as a degree program toward future employment, not just an investment vehicle so that work is unnecessary. The most valuable part of the community is the opportunity it delivers to not only learn about what is to come, but develop skills and build relationships to be ahead of the curve as it arrives. All of us here now are already taking part in the digital economy in a way that is currently novel, but will become ubiquitous globally.

Not only this, we are also using the technology and developing the tools and vehicles that will be used to empower the entire digital workforce, from blockchain, to crypto, to Non-Fungible Tokens (NFTs). Much of the list of Great Reset items suggested by the WEF will benefit from blockchain integration for supply chain management and tokenization for tracking and value distributive purposes, including the payment of salaries for gig workers at a global level.

While people here understand that there is potential in blockchain and crypto, I think that many do not fully understand how large the opportunity is and how much of an impact it is going to have on the world economy. It is not just banking that is going to be disrupted, it is literally every business that currently exists, which means that every bit of economic value in the world today and in the future to come is going to be affected by things we are already doing here daily. More and more services and business models will move into the space, more applications will move on and whether you are buying from Amazon or hiring plumber, blockchain and tokenization are going to be integrated into the process, even if not seen.

A lot of what is going on is the development of the infrastructure that is going to underpin the economy on the back end and as individuals, we will interact with this on the surface through interfaces, in a similar way as we use the millions of databases that form the internet today. We do not dig through the trillions of folders looking for what we are after, we just click and search, and it is surfaced for us. This means that ew can get what we need, without having to work for it, as the process is automated.

Many jobs are being created in automation development for all of our various processes, which ends up costing jobs, but also giving us more time to spend on the things that are more important to us. This is an opportunity in itself, as we will have the chance to spend more time doing what we love, but it isn't going to be possible for everyone to earn on it, which means we are going to have to shift our social and cultural paradigms as to what valuable work is, what it is worth and what happens for those who are unable to take part effectively. The disruption in this is enormous and there is a lot of risk for many people to be left by the wayside to digitally die.

But, this is part of evolution and revolutions always bring in a period of redundancies where while there is employment growth, the skills needed and opportunities available will not be suitable for all. This gives us another opportunity to grow however, as unlike the past, we now have the technology to organize and govern ourselves in new ways and build a society where we can far better attend to each other, if we learn to care about each other. Human relationships matter in this regard and while a lot of people are increasingly moving away from building interpersonal connections, I think that what the technology we are developing will empower is a return to a point where community again matters.

As I have said many times, we have an opportunity here. Up until now, the automation of the world has been in the hands of corporations that are seeking profits at ay cost, groups that do not care about the cost in jobs, as long as it improves their ROI, with the value they generate going back to a narrow sub-section of society. In a decentralized environment of interpersonal relationships however, the value not only gets spread more widely, activity is also tempered by the interconnectedness and interactions of us as humans. This fundamentally changes not only the financial flows of the economy, but the direction in which new development takes.

Economy literally means "household management" and for far too long, we have put it in the hands of faceless corporations and lost the connection to its roots. Now it is time to take responsibility back and build what we must to once again connect it to what is truly valuable. Us.

Taraz
[ Gen1: Hive ]

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The future looks bright for those finding unconventional ways of interacting on a social and economical level, which many on this platform have pointed will be the same thing. Social capital and technological know-how are imperative for surviving in the future which is not as far as many of us think. Things are changing fast.

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Social capital and technological know-how

It is going to be interesting as there will be the need for both on the surface layer and the infra, as design will have to take into consideration human. I see that there will be the need for a lot of collaboration in this area.

It is happening faster than we think and most people, are behind where we are on this.

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I saw let's say about 20 or 30 people up close yesterday. I know next to nothing about their worlds, really. One of the persons I know by name and have talked to about various subjects suddenly came out with a T-shirt saying Join the Financial Revolution on the back and a golden/orange logo above the chest saying somethingnoteasytoreadfromadistancebutendingincoin. I said to myself "great, bitcoin, we'll have a chat about that soon". Then it turned out it was something called onecoin. Then I thought the chat would start with a joke about the local shitcoin he bought into...but I never started the chat. I decided I shall research first.

And behold, top searches in Google did show it was a Bulgarian related Ponzi scheme that made billions 3 or 4 years ago. Then I said to myself "Of course! There's an opportunity for a scam, our proud fellow countrymen have already been there and done that." I wonder why con art is not a thing in local colleges. Yet. We certainly got people with academic level experience.

I also guess that for a small country we hold a relatively huge portion of bitcoins.

The most valuable part of the community is the opportunity it delivers to not only learn about what is to come, but develop skills and build relationships to be ahead of the curve as it arrives.

I've always talked about this, inasmuch as people are after the prices and the airdrops and the money and the gains. Constantly building relationships that will solidify into value is what hive brings. A lot of people have gotten wide range crypto education just because they're there. It's a straight ahead future of learning and prospectful gains for a long period of time.

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I wonder what some people will do with what they have learned and whether they will be able to translate it into an alternative income stream.

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Well a lot of people are already putting the knowledge they have learnt Into good use, basically hive is like a school but many see not only as a milking machine

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That customer service call to demonstrate the power of AI that Google did a couple of years ago at their annual conference was pretty impressive. Sure there were a couple of hiccups, but it was just eerily real on so many other levels. Even the small pauses like "umm" and things like that were just amazing. I wonder if there are any open source AI projects in the works right now. Something less proprietary.

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Yep, it was pretty incredible and I assume it has made leaps and bounds since then. A whole lot of office jobs disappeared with the coming of computers, a whole lot more on the chopping block. The "deep fake" tech is another area that will replace a whole lot of positions, considering a lot of actors just won't be necessary - especially in the background. Advertising will utilize it heavily.

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Very interesting!

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"Automatic for the people"

I came here for the Depeche Mode!! ;)

Sorry to disappoint!

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Dear @tarazkp , Currently, in East Asia, including Korea, most people have not adapted to the creation and use of artificial intelligence.
So, most of them choose jobs such as carpenters, barbers, novelists, entertainers, painters, singers, and YouTubers that artificial intelligence cannot.

They, including me, do not know the wisdom of a handsome guy @tarazkp .😄

most people have not adapted to the creation and use of artificial intelligence.

They probably interact with automattion several times daily in some way - they just don't recognize it. When it comes to YouTube for example, the "suggestions" are made via algorithm.

They probably interact with automattion several times daily in some way - they just don't recognize it. When it comes to YouTube for example, the "suggestions" are made via algorithm.

Dear my friend @tarazkp, You are correct!
By the way, most Koreans don't speak English, so they don't understand your thoughts. In particular, they do not know your opinion against centralization.

They often believe that you, an English speaker, take evil profits by manipulating the world's stock and cryptocurrency markets.

There are voices among Koreans claiming that by joining the new economic sphere created by the Chinese, they can escape the domination of Westerners.
Most of the Koreans do not speak English, so there is a limit to the acquisition and interpretation of new information.

Koreans tend to believe that they are discriminated against compared to English speaking people like you.
I am not sure about the benefits decentralization gives me. I believe in you, but it is difficult to understand your articles because my English is poor.

Human oracles reporting into smart contracts, like on dublup.io That's a whole new sector right there.

Yep. There are going to be heaps of little things popping up where humans will be able to play interaction games of various kinds

Automation will definitely replace a lot of human jobs... and the whole traditional economic strategy of "retrain them" will no longer hold water, probably within 25 years... there simply will not BE enough that "needs doing" by the number of human beings who are available to work.

That leaves us with redefining what work is, to perhaps a point where "full-time" means 25 hours a week OR perhaps we move towards something that's exclusively a "Gig Economy" in which nobody's an employee and everyone just brokers out their particular niche skills on a contract basis through massive "job markets," and in the course of a year any given person my work doing the SAME job for 20 different companies.

I expect blockchain technology will be a part of the process, but we won't know that "we" have truly arrived until people stop talking about the underlying technology and instead focus on what you can DO with it. In a way, similar to how few people now talk about being "online" as a concept (it's not new anymore) they talk about what they can DO online.

And so, social self-branding becomes more and more important!

=^..^=

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Not just won't there be enough - what there is will not be learnable by most people. Truckdrivers need to retrain to be coders - there is a reason they are a truckdriver and it isn't just about intelligence.

but we won't know that "we" have truly arrived until people stop talking about the underlying technology and instead focus on what you can DO with it.

Reminded me of this clip.

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A lot of job titles will lose to automation, but we should retrain and get new some skills for the future job. The traditional job may be taken over by AI and automation. What we can control is to train ourselves with technology focused skillset. Nothing lose unless we prepare.

... will see an increased demand for workers with more advanced digital skills...

I agree that we need more digital skillset to navigate the future job market. I hope the educational sector (especially on developing countries) should start grass-root programs to equip student with digital skillset.

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