A 2014 Pew Research Center study asked 2,000 experts about how technologies like robotics and artificial intelligence (AI) would affect jobs. About half said a significant number of jobs, both blue and white-collar would be gone, potentially resulting in massive unemployment, income inequality and a complete breakdown of social order.
While we're used to factory jobs being lost, the rise of AI will be vastly more far-reaching. In 18 Jobs That Are Most Likely to Be Killed off by Computers, we listed jobs in jeopardy ranging from equipment operators to physicists. Computers equipped with AI are now even writing articles like this one, so journalism jobs could also one day follow dial phones and camcorders into history.
But it's not all doom and gloom. Some futurists are suggesting that by letting robots and AI handle much of the work that humans currently do, the new economy could provide a universal guaranteed income, thus freeing humans to be more creative and productive.
So which is the likely outcome: Dystopian hellscape or a free-money Nirvana? That's what we're going to explore in this week's "Money!" podcast.
As usual, my co-hosts will be financial journalist Miranda Marquit and producer Aaron Freeman. Our special guest for this episode will be Dr. Anthony P. Carnevale, Professor and Director of the Georgetown University Center on Education and the Workforce.
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