Robot Economy Could Cause Up To 75 Percent Unemployment

50% to75% Unemployment?

Robot Economy Could Cause Up To 75 Percent Unemployment

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MAX NISEN | Business Insider

Are we prepared for a world where 50 to 75 percent of workers are unemployed? It seems like a ridiculous question, but it's something economists and technologists say we seriously need to think about. It's just math.

Smarter computers mean that any mid-paying job that involves a routine: data entry, number crunching, operations, and so on, will be replaced as well, which will remove a big piece of the approximately 7 million business and financial operations jobs that exist in the United States.

When you add all of that up, some think 50 percent unemployment is optimistic. Software entrepreneur Martin Ford predicts something closer to 75 percent unemployment by the end of the century. "The vast majority of people do routine work," Ford says. "The human economy has always demanded routine work." And eventually, that work won't be done by humans, ...

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