Within Two Decades, Middle Class Extinction Will Occur: Study Finds AI Will Replace 47% of Our Jobs

The slow extinction of the middle class may be witnessed over the coming years if action isn't taken to safeguard our employment. Rising AI technology only promises redundancy for the classes and profits for the elites.

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Fasten your belt. Our world is moving in a direction that will certainly have dire consequences for our future social stability.

Our soothsayer is the British Theoretical Physicist, Professor Stephen Hawking. Hawking has said in the past that because of the way humans are pursuing Artificial Intelligence (AI), the future of humanity is on a precipice.

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If Professor Hawking were a religious priest in past times, his followers would probably have hailed him as a great seer. This is only because what the physicist has said in the past has started to manifest.

A study by the United Kingdom’s Oxford University is warning us of a similar impending future that will be due to the rapid technological advancement, especially in the development of AI.

The study has suggested that by the end of the next two decades, a whopping 47% jobs would have disappeared. In other words, these jobs would be taken by machines. The Oxford study primarily concentrated on the United States, but analysts have standardized it to include all developed nations.

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“We examine how susceptible jobs are to computerization. To assess this, we begin by implementing a novel methodology to estimate the probability of computerization for 702 detailed occupations, using a Gaussian process classifier. Based on these estimates, we examine expected impacts of future computerization on US labor market outcomes, with the primary objective of analyzing the number of jobs at risk and the relationship between an occupation’s probability of computerization, wages and educational attainment. According to our estimates, about 47 percent of total US employment is at risk,” the researchers wrote in the abstract of the study.

The study revealed that not only is the entire concept of employment about to change in a dramatic manner, the trend is irreversible. This is the dangerous part of what is happening.

Many observers and analysts have added their voice to the study. In fact, economists across the board predict similar job loss in developed countries as a result of the AI rise, robotics, and other technologies. Computers are increasingly performing complicated tasks more cheaply and effectively than human beings, with smart industrial robots quickly learning a set of human actions. Jobs relating to services are also vulnerable. Computers can already detect intruders in a closed-circuit camera picture more reliably than a human can. By comparing reams of financial or biometric data, computers can diagnose fraud or illness more accurately than any number of accountants or doctors. These rising technological changes are threatening to wipe out what looks to be the entire middle working class.

All these changes are engineered by the rise of AI. We can therefore sense what Hawking said about its development.

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Art Bilger, an expert at the Wharton School of Business at the University of Pennsylvania, said all developed nations on Earth will see job loss rates of up to 47% within the next 25 years.  Bilger is a venture capitalist and also a board member at the business school of University of Pennsylvania.

Both blue and white collar jobs are at risk. However, in the immediate future, blue collar jobs, especially the manufacturing sector, will be heavily impacted. Already, unemployment is said to be at alarming levels in much of the developed world. In 2000, 65% of working-age people in the States were working. But since then, the proportion has fallen. The current level is estimated to be around 59%.

The most worrying part of this analysis is that it is said no government across the developed world is prepared —or even preparing— to face this imminent crisis. The governments have their heads in the sand while the fate of many working class citizens is in peril.

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According to the Economist, the last three decades has witnessed labor’s share of output shrinking globally from 64% to 59%. Meanwhile, as this threat looms over the working class, the elites (1%) are the ones benefiting. In the United States, the share of income going to the 1% is said to have risen from around 9% in the 1970s to 22% today. This is more than serious.

As the useless governments stand by, scratching their heads, concerned observers have stepped in to help. One of them is Bilger. He has formed a nonprofit called Working Nation, whose mission is to warn the public and to help make plans to safeguard them from this worrisome trend. The venture capitalist called on corporations, academia, government, and nonprofits to cooperate in modernizing the workforce.

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In a recent radio interview, Bilger suggested restructuring the entire education system in the United States. He said the education system should provide skills that workers need for available jobs.  Bilger also believes there is a need to retrain middle-aged workers so that they can participate in the economy, rather than be left behind, as is happening now.


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2 COMMENTS

  1. watchers… pay attention… while you dont see anything related to other secret societies in war… everything was forged so to no one being sure of nothing about futurism and nature and gaia… and hackers anonymous wikileaks are created clean energy and ideologies, so if it is working in the future, who would know it would work… and who could bet the evolution of the being if it is too far from proving… only being such being and being in contact with natexistuni so why no one in the planet is actually combating the illuminati and there is no other secret society… not even battles or wars… and in wikipedia says they were battling to have world powers… so then why secret and why society and why world and not planet and gaia?????

    and the illuminati were not injecting or hijacking govs, they were created before the the govs were forged and tried to manipulate more and more pieces like infrastructures, money, laws, lands, rights and reseach, human abilities and properties and genes and traits and mind secrets and energy secrets…
    so of course creating the excuse of higher beings and secrets of energy and research and monopolies and – + being in batlles against other secret societies and being screwing every life and being screing with everyone + everything forged…

    by lying and creating illusions, something is happening right now and something about our being is being hidden… like the ability to sense and feel what beings and natures feel naturally…

    where are the battles???

    why does this planet is focused in such transcendental ascendental things and no one can have it??? got it??? no planet is so specific in evolution or progress or encounter

  2. There is dire need to change the concept or formula of GDP and distribution of currency . Petrol price was degraded coz it no longer serve dollar and extortion of currency was halted . AI eases work and I think elon musk concept of single wage to all wasn’t that bad idea . Question is not about AI would snatch jobs . Real question is why is monopoly that strong , there have to fare way to run economy . World economy is weird coz economists themselves are unable to explain how is it working .

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