“Edward King, former chief economist to State of Alaska talks about job automation and it’s impact on workers”
Since last few decades use of Robots in the production processes has been helping job Automation improving the productivity. It looks like robots through Robotic Process Automation (RPA) are going to take over the manual jobs also, however there is a counter view that Robots will not replace the human’s role rather help them in routine work and leave us with more value added and innovative works.
It is believed that growing RPA is more likely to hit hard the unskilled labor while supporting the skilled labor. In this case, inequality between the different classes of labor force will be growing. This is where we should focus so as to ensure the benefits of RPA will be distributed careful to the different segments of the society, according to Edward King former chief economist of State of Alaska.
King shared that any shock events such as Increase in Student loan, national Debt, Social Security Insolvency, stock market crash may happen any time with some degree of certainty.