Opinion – Robot revolution: The economics of automation | World Economic Forum – John Gelmini

Another excellent and stimulating article via Dr Alf this time about the effects and impact of Artificial Intelligence and Robotics on jobs and the Economy via Tim Pike and Mauricio Armellini of the World Economic Forum.

The article would be more believable if one didn’t know that the same people who attend Davos, the annual Bilderberg meetings, plus other secret gatherings where AI, robotics, peace, war, recession, recovery and population control also attend WEF meetings.

This in itself gives the lie to the idea that AI, Robotics and Automation will somehow create as many jobs as they destroy and will free people up from boring work, daily drudgery, so that they can then be upskilled into interesting work. The reality is that the majority of people are of average and many below average intelligence and unless their intelligence is augmented with an expert system, all the jobs that they could do can be done by a robot.

With machine learning and AI due to overtake human intelligence by 2019 according to Ray Kurzeweil of Google, their Chief Futurist and CTO we are into Singularity 1, 2, 3, and 4 as the amount of knowledge doubles every 3 years. More and more expert systems will be placed in nanochips and the bodies of those whose intelligence has been augmented will be helped by stem cell technology and techniques from the Geron Corporation of Austin Texas to live for hundreds of years as cyborgs doing the work required from super intelligent people.

3D printing means that manufacturing costs fall with no need for human involvement so an elite few can have everything they need without a large population of factory workers.

Robots are already in Japanese care homes, hotels, supermarkets, petrol stations and doubling up as teaching assistants. They are in factories, warehouses, Amazon warehouses and in the Pentagon’s plans as Terminator style killing machines and fighter pilots. The swashbuckling “Top Guns” played by Tom Cruise in the 1980s film of the same name are destined for the history books just like Biggles the earlier equivalent from England better known to men in their 60’s from their schooldays.

Oxford University puts the rate of global job losses through AI and related developments at 50% within 20 years starting from 2016, others put it at 50% of American jobs by 2033. The implications for countries like the UK which has abysmal worker productivity and far too many lazy, greedy and incompetent bosses is for 75% job losses by 2033.
Politicians are not in denial but are deliberately keeping quiet about this so as not to alarm people whilst the educational establishment are in denial, pretending as we speak that jobs will be there for school leavers just as they always have been. They bleat about “resources”, savage cuts never considering for a single moment where the replacement jobs are coming from.

The WEF article is well-intentioned nonsense of a kind we will see more of as the “frog boiling” of the great unwashed accelerates.

Dr Alf is right, young people need to think out of the box and develop the required survival skills.

John Gelmini

Opinion – IFS warns of biggest squeeze on pay for 70 years over Brexit | Business | The Guardian – John Gelmini

Dr Alf is right , people have to live with their decisions regarding the EU and BREXIT and before they can even start to move into the “sunlit uplands” they have to learn some difficult truths.

Some of these are:

–The world does not owe us a living and if we want a high standard of living we have to pay the price in higher worker productivity or face reduced living standards
–We cannot cut our way out of trouble so that means making and selling things that people want and exporting them all over the world

This in turn means learning useful languages and quadrupling the export sales force whilst initiating measures on taxation and writing down allowances that help not hinder us

–We are responsible for our own health,spiritual and emotional wellbeing and we have a roadmap to follow based on Judeo Christian ethics, sensible eating, exercise and the need to develop an enabling personal philosophy
–Our public services are inefficient and unaffordable and need to be reshaped to follow best in breed practice globally

This means culling unnecessary civil servants, local authorities, police and fire commands and layers of management and replacing the NHS with something that is fit for purpose

–We have too many bad bosses who hold back UK growth, undermine productivity, prevent pay from rising (except their own) and do not even realise that their companies are performing badly.

This from Andy Haldane, the Bank of England’s Chief Economist writing in the Daily Telegraph earlier in the year”There is a statistically significant link between the quality of firm’s management processes and their productivity”

He also accused the majority of poorly performing British firms of failing to understand their own predicament.

The evidence for just how bad they are is there for all to see,just 400 world-class companies out of 6 million registered at Companies House,directors with poor formal management training or none, no Mittelstand and poor /nonexistent language skills versus 2,500 for Germany a Mittelstand and multilingual directors who are often scientists and engineers

–People have to understand that to reduce immigration as many of them claim to want that they are going to have to do some of the jobs which at present they see as “beneath them” or have those jobs automated out of existence and accept that dole and being a benefit recipient is going to get a lot tougher and will have to transmute into workfare. There can no longer be a free ride under which they remain in bed as couch potatoes,watch Jeremy Kyle and engineer a situation under which they and their partners live in separate households each in receipt of £20,000 GBP per household, courtesy of the working taxpayers who are left.

John Gelmini