Could we live without work by 2050?

As we kick off 2018, there are two topics that have been on my mind.

The first is the role that robotics and artificial intelligence is starting to play in our professional lives.

The automotive industry is facing massive change as a result of technology. Driverless cars are already being tested in Pittsburgh and Arizona, with companies including Tesla, Uber and Google racing to be the leader of autonomous vehicles. Experts are estimating that 10 million autonomous vehicles will be on the road by 2020 with Britain completely driverless by 2050. The impact will be millions of people out of a job including those that drive taxis, buses, vans and trucks.

This is just one example of an industry that is changing rapidly thanks to the exponential advances we have made. Many industries will see lots of change in 2018 and the years to come as more and more AI is introduced in the workplace.

The second thing that’s on my mind is how we can proactively prepare society for this revolution.

McKinsey actually estimates that up to 60% of existing jobs will be partially automated by 2030. That’s a lot of people whose jobs will evolve and change over the next few decades. We need to start rethinking our values and organization so that we can support our unemployed workforce.

First, we need to change the way we educate our youth and develop emotional intelligence earlier in schools.

Our current educational system doesn’t value emotional intelligence. In the majority of schools, the focus is on math, history and other seemingly practical subjects. In reality, students and current working professionals won’t be able to compete with AI regarding calculation or memory. Robots have already surpassed our skills in computation and recalling facts.

We need to start focusing on EQ over IQ, and training humans to use emotions and creativity to surpass the minds of bots. We should be training our young minds to practice empathy and flexibility, and focus on teaching leadership skills that help students to be more resilient. Interpersonal intelligence and imagination will help train our workforce for the next decades of jobs.

Next, we need to rethink how we will financially support unemployed citizens.

It’s been exactly one year since Finland piloted a basic income test to 2,000 randomly selected Finns. For those of you unfamiliar with basic income, also called universal minimum income, the idea is to give all citizens a monthly stipend throughout their life regardless of their employment status or ability to work. Finland is only one year into their test, but I am very optimistic that basic income could be a viable option in the long term.

I truly believe that basic income could do the following:

• Fight poverty and its effects on health, safety and education
• Simplify our tax and social systems
• Free up consumption by providing everyone with a starting disposable income
• Encourage entrepreneurship and risk taking
• Give humans more time in their lives to give back

Yes, there are a lot of political and economic questions to consider. Here are just a few that come to mind:

• Will the deflation linked to technological developments offset the inflation that would be produced by distributing a monthly income to the entire population?
• How will basic income be handled for children under 18? Would the payments need to change based on your age and should those payments go directly to your caretakers?
• Will those with a disability be offered additional support to cover higher costs?
• Should crime affect your eligibility?
• How will basic income be handled for those that immigrate to a different country than where they are born?
• How can we best handle the transition to a basic income model?

Basic income won't be probably necessary before several decades, but now is a good time to test and refine our strategies (as Finland is doing) and think about a new model of society where work is not the only cornerstone.

Finally, we need to help people find meaning outside of work.

Even once our workforce feels financially supported, we will still need to navigate the emotional loss of jobs. There will be a lot of depression and anxiety to navigate unless we change the stigma surround layoffs and offer positive alternatives for people to spend their time.

What if we make volunteering 8-hours a month a requirement for every person accepting basic income (with a few exceptions for those with disabilities or childcare responsibilities). This work could give meaning to people who are recently unemployed, as well as strengthening their relationship with society and making them understand they are a part of greater good. This structure would value social impact and help people to connect through their service. We could even offer extra financial incentives or rewards to those donating more of their time or taking on leadership roles. Imagine the extent of projects that could be completed if everyone participated!

I am very curious to hear your thoughts on how whether basic income could be an option, as well as how we can best prepare for changes as a society.

Share your thoughts in the comments below and let’s get an interesting debate going to kick off 2018!

#AI #FutureOfWork #basicincome