Insights March 9th, 2016

In U.S. President Barack Obama’s 2016 Economic Report of the President to Congress outlines the increasing probability that jobs that pay under $20/hr face a strong likelihood of being replaced by a machine in the future.
Read the PDF, page 238-239
An excerpt:

To better understand the relationship between automation and wages at the occupational level, CEA matched an occupation’s median hourly wage to the occupational automation scores from Frey and Osborne (2013). The median probability of automation was then calculated for three ranges of hourly wage: less than 20 dollars; 20 to 40 dollars; and more than 40 dollars. The results, presented in Figure 5-15, suggest that occupations that are easier to automate have lower wages. Low probability of outright automation, however, would seem to make an occupation a better candidate for being complemented and improved by automation in the workplace (such as the role played by e-mail, statistical analysis, and computerized computation for a variety of office-based jobs) and so are not as prone to seeing an effect on wages from increased automation.
These data demonstrate the need for a robust training and education agenda, to ensure that displaced workers are able to quickly and smoothly move into new jobs.

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Question. What will the new jobs be?

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Nikolas Badminton is a world-respected futurist speaker that researches, speaks, and writes about the future of work, how technology is affecting the workplace, how workers are adapting, the sharing economy, and how the world is evolving. He appears at conferences in Canada, USA, UK, and Europe. Email him to book him for your radio, TV show, or conference.
 

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Nikolas Badminton

Nikolas Badminton is the Chief Futurist of the Futurist Think Tank. He is world-renowned futurist speaker, a Fellow of The RSA (FRSA), a media personality, and has worked with over 400 of the world’s most impactful companies to establish strategic foresight capabilities, identify trends shaping our world, help anticipate unforeseen risks, and design equitable futures for all. In his new book – ‘Facing Our Futures’ – he challenges short-term thinking and provides executives and organizations with the foundations for futures design and the tools to ignite curiosity, create a framework for futures exploration, and shift their mindset from what is to WHAT IF…

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