Thursday, April 26, 2018
Artificial Intelligence machines, popularly known as Robots, are taking over the production and delivery of goods and services. While this trend is exciting and promises a rosy future for many, the inevitable consequence is a large scale loss of jobs for Americans.
With rising unemployment from Robots, society will face an intractable problem: Namely, a loss of consumer demand for all goods and services since a larger share of workers will be unemployed as a result of Robot replacements. It is estimated that this will seen in 2018: In 2018 9% of jobs will be automated while 2% will be created in automation for a net loss of 7% of American jobs.
One of the proposed solutions to maintaining a reasonable standard of living for most Americans is the creation of a Universal Basic Income [UBI] for all Americans who lose their jobs to robots.
While this may appear to be a radical proposal for the United States, UBI or some similar program will be required to avoid a serious recession.
You can read a thoughtful and short paper on this idea by clicking here: Universal Basic Income to see Benjamin D Goodwin's paper on Universal basic Income.
AND, read Cory Booker here: Cory Booker's Big Idea
The Congress of the United States has prepared a report on the National Security implications of AI: Report to Congress