Well according to Bank of England economist Andy Haldane, a member of the central bank’s rate-setting committee, the transformation caused by automation of cognitive skills would be more intense than Britain’s first industrial revolution.
https://www.independent.co.uk/news/business/news/uk-job-loss-risk-ai-robots-artificial-intelligence-technology-bank-of-england-andy-haldane-a8498901.html
Good question. Not necessarily as demonstrated by the preceding industrial revolutions. The 4.0 revolution will bring business and employment opportunities for many people. I believe that the circumstance that will determine that there is no problematic transition will be marked by the continuous training of employees, an equitable distribution of the new wealth that will be created and knowing how to adapt the productive needs to the needs of future consumers.
For sure, it is impossible to know. Opinion-wise there will be different opinions from both sides of political perspectives. A more important question is however how we deal with it, when it is on the door step. I think it is possible to delay but such revolution is impossible to avoid, so a solution is desparately needed.
If they are incompatible of course.
S.K.Mallick (CA)
for the RHMHM School
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