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Chitchat The Rise of the Machines....and AI

The_Hypocrite

Alfrescian (Inf)
Asset
[h=1]Rise of the machines: What jobs will survive as robots move into the workplace?[/h] By business reporter Elysse Morgan
Posted Thu at 9:12pmThu 6 Jul 2017, 9:12pm
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Video: The importance of understanding what kind of jobs will exist amid rapid technological change. (The Business)
Related Story: Is money for nothing the answer once the robots take our jobs?
Related Story: How artificial intelligence will reshape our lives

Map: Australia

The invasion of robots into factories and offices has long been seen as final blow for workforces ravaged by cheap offshore labour and the never ending quest to cut costs.
[h=2]Key points:[/h]
  • Two-thirds of the shift from automatable tasks will be driven by people changing the way they work
  • Automating routine tasks will improve job satisfaction for 62pc of low-skilled workers
  • Workplace injuries could fall by 11pc as robots takeover the most dangerous jobs


However, that is a view being seriously challenged in hi-tech steel fabricating factory just south of Brisbane.
Having put "artificially intelligent" welding and cutting equipment to work, Smart Steel Systems chief executive Chis Brugeaud said he was now able to bring back jobs "onshore" and reverse the trend of laying off people as technology improves.
"What makes us different from the traditional fabricator is we have as many developers as we do welders, so we can process around 42,000 tonnes of steel a year," Mr Brugeaud told The Business program.
Robotics has delivered two noticeable outcomes. It has more than halved the time it takes to produce a tonne of fabricated steel and the number of employees has risen from three to nine.
Photo: Smart Steel Solutions CEO Chris Brugeaud says robotics has boosted productivity and employment at his Brisbane factory. (Supplied: Smart Steel Solutions)
The payroll now includes software, mechatronics and robotics engineers.
The company's welders and boilermakers like Mike Robinson have moved off the factory floor into the office and now sit alongside computer scientists and artificial intelligence experts.
"We've gone from marking material out on your hands and knees by hand and cutting it by hand, to profile cutting out by computer technology," Mr Robinson said.
[h=2]Robots are becoming white-collar workers[/h]Economist and director of consultants Alpha Beta, Andrew Charlton, has been studying whether there is any truth to concerns that the pace of automation is increasing and will end in mass unemployment.
"The rate today is no higher than it was in the peak of the 1950s and 60s, when automation was taking thousands of jobs out of agriculture, no greater than it was in the 70s and 80s when automation was taking thousands of jobs out of manufacturing," Dr Charlton said.
"What's new today is that automation is affecting predominantly white-collar jobs more and more than it ever has in the past."
Studies have shown two-thirds of the shift away from automatable tasks will be driven by people changing the way they work, not changing jobs.
Source: AlphaBeta, O*Net, ABS
[h=2]Which jobs will AI take over?[/h]
Machines have long been replacing blue collar factory workers, but now artificial intelligence is threatening white collar jobs.

It is a trend evident in legal and paralegal circles where the more mundane functions are increasingly handed over to artificial intelligence (AI) platforms.
"The reason you do that is very simple — [it] is that people in business are very frustrated that the traditional mode of receiving legal services, and this [automation] just delivers legal services faster and more cost effectively that we ever thought imaginable," said Andrew Mellett, CEO of software developer Plexus.
Mr Mellett took four years to develop the Plexus platform, which clients, including Medibank, Optus and Loreal, use for contract work.
"The huge amount of work that is done in law firms is frankly not interesting and lawyers are very talented and intelligent people," he said.
"What's exciting for us is that we are able to create career paths that people are far more engaged and excited to come to work each day."
[h=2]As old jobs disappear, new ones arrive[/h]Mr Mellett said the increase in productivity has not come at the expense of legal jobs. In fact, it is the obverse — he's hiring.
"A lot of these roles are a blend between consulting, law, technology, client services and so we have to come up with new job descriptions new job titles," he said.
If Australian firms embraced automation to the same extent as peer economies, productivity growth could increase by over 50 per cent.
Source: Compustat, AlphaBeta, O*Net, ABS
One such job is that of young lawyer, Dougal Stevenson, who has been retrained as a "legal knowledge engineer" at Plexus.
"My role in particular leverages AI in some aspects, it's really at the moment meant to support existing processes," Mr Stevenson said.
"So I don't think AI is going to take over jobs, it will certainly push out older jobs and create new jobs like mine."
[h=2]If your job is mundane, move on[/h]While a tertiary degree is handy, there are other ways to future-proof job prospects.
"The best thing you can do as a worker is to make sure you're not doing something routine and repetitive and predictable," author and futurist Martin Ford said.
"Move into other areas, things that involve perhaps working more with people, or being creative."
Data scientists and robotic engineers have solid futures, advertising and teaching, food, and healthcare in particular nursing are regarded as safe as well.
Automating routine tasks will improve job satisfaction for 62 per cent of low-skilled workers.
Source: O*Net, ABS
Of course, no-one could deny that some workers would find themselves redundant.
"There's been just an enormous change in the seriousness that this issue is now associated with. You see economists, policy makers, people in universities, in the business world who are genuinely concerned about this," Mr Ford said.
[h=2]Winners and losers[/h]Dr Charlton argued the nature of work is changing in a way that was improving the competitiveness of the economy but also creating more jobs that were good jobs.
[h=2]Money for nothing[/h]
Is a universal basic income the answer if robots create mass unemployment?

However, that doesn't mean an open slather approach was the way to go, according to Dr Charlton.
"We have to work really hard to make sure that workers displaced by automation are reskilled, retrained and given new opportunities in different areas," he said.
"When machines do work that humans could do, that is a positive productivity shock in the language of economists. And if we get that shock right, then there's an up to $2 trillion dividend for the Australian economy over the next 15 years."
Workplace injuries will fall by 11 per cent as automation eliminates some of the most dangerous physical tasks in the economy
Source: AlphaBeta, O*Net, ABS
Back at his technology-driven law firm, Mr Mellett said the shock was less in the new, but more what's in store for the old.
"The flipside of that is there will be professionals and firms that don't evolve their offering and how they provide it and unfortunately that's not going to give them a bright future," he said.
This is final report of a three part special by The Business and Business PM which looks at how automation will reshape the Australian workforce.

http://www.abc.net.au/news/2017-07-...ive-as-robots-move-into-the-workplace/8685894
 

The_Hypocrite

Alfrescian (Inf)
Asset
[h=1]Rise of the machines: Is a universal basic income the answer for mass unemployment?[/h] By business reporter Michael Janda
Updated Wed at 6:37amWed 5 Jul 2017, 6:37am
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Video: Why the world's richest say a universal basic income is good policy (The Business)
Related Story: How artificial intelligence will reshape our lives

Map: Australia

It's just over three decades since Dire Straits immortalised their satirical free money formula in song.

YouTube: Money for Nothing music video
Sadly, not all of us are skilled at Hawaiian noises or banging on the bongos like a chimpanzee, so we're not going to make it as rock legends on MTV, which itself has been usurped by YouTube anyway.
But what if you didn't have to be a rock star to get money for nothing?
What if, instead of humans installing microwave ovens and moving refrigerators, robots did it for us, and then we got paid to do nothing?
Much of the discussion about artificial intelligence and machines is cloaked in fear - the fear that they will take our jobs and leave the masses unemployed and destitute.
But what if there are some jobs - like custom kitchen deliveries and moving colour TVs - that we'd rather like them to take?
"I think we should embrace automation. The only problem we've got now is we're not embracing it," argued author and former BBC economics editor Paul Mason.
"We're paying people with degrees to make coffee. We are replacing machine car washes in Britain with hand car washes, where six guys with rags can undercut a machine."
It's long been a dream of futurists that machines might take over odious and repetitive tasks so that people might work less and enjoy more leisure.
[h=2]Which jobs will AI take over?[/h]
Machines have long been replacing blue collar factory workers, but now artificial intelligence is threatening white collar jobs.

The difference in the past couple of decades is that machines are becoming increasingly capable of assuming not just manual roles, but mental tasks as well.
But this dream could turn into a nightmare if the fruits of the machines' labour are retained exclusively by their owners.
It's a nightmare that renowned physicist and cosmologist Stephen Hawking sees unfolding before his eyes.
"The outcome will depend on how things are distributed," he replied in a 2015 Reddit AMA (ask me anything).
"Everyone can enjoy a life of luxurious leisure if the machine-produced wealth is shared, or most people can end up miserably poor if the machine-owners successfully lobby against wealth redistribution.
"So far, the trend seems to be toward the second option, with technology driving ever-increasing inequality."
A universal basic income (UBI) paid for by higher taxes on the wealthy, especially those whose wealth is derived from capital not labour, is a key plank in the first option.

YouTube: Elon Musk speaking about a universal basic income
Tech billionaire Elon Musk is an advocate, even though he would probably be one of those most heavily taxed.
"I think ultimately we will have to have some kind of universal basic income, I don't think we're going to have a choice," he told a global summit in Dubai earlier this year.
Troy Henderson is doing his PhD on universal basic income and, even though he's sceptical that robots and AI really will lead to mass unemployment given historical experience with major technological change, he said there are still good reasons to introduce a UBI.
"A reduction in poverty levels, a reduction in inequality, an increase in income security and also an increase in personal freedom," he argued.
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Audio: Why a universal basic income? (The World Today)
"I'd also say it is a way of redistributing value in the form of money from over-remunerated forms of work, such as banking for example, to under-remunerated forms of work, such as looking after kids or looking after elderly parents, which today is disproportionately done by women."
[h=2]Money for nothing doesn't come cheap[/h]But that's precisely the major sticking point around a universal basic income ... money.
Giving everyone money for nothing doesn't come cheap.
"If you wanted to replace the current system with just a level of payment that was about the level of Newstart, we'd be talking $240 billion a year in spending," estimated Professor Peter Whiteford from ANU's Crawford School of Public Policy.
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One option would be to reduce some of the more generous existing benefits, such as the aged and disability pensions, to the level of a UBI.
But that probably wouldn't be popular.
"If you set it at the level of Newstart you would be cutting the benefits for pensioners by 40 to 45 per cent," argued Simon Cowan from the Centre for Independent Studies think tank.
Even with those savings the net cost would still be huge.
"You would still have to find something like a $170-190 billion in order to fund this scheme," Mr Cowan estimated.
The overall spend for the Australian Government this financial year is about $450 billion, and it already has a sizeable budget deficit, so it would need to raise nearly 50 per cent more tax revenue to fund even a very basic universal income.
That could lead to some eye-watering tax rates for those still working.
"You'd be talking about everybody having a marginal tax rate of about 60 cents in the dollar," Professor Whiteford reckoned.
But it's zero sum game. For every higher-income person paying more tax, there'd be a lower income person made better off, with most people in the middle about the same.
[h=2]Will we want to work if we're paid to do nothing?[/h]The second big obstacle to UBI is the question of whether anyone will want to work at all - a question tested in North American trials in the 1970s.
"If you were an adult male it didn't make much difference in the amount of work you did, mothers tended to spend more time with their children and young people tended to spend more time in education," Professor Whiteford said.
The Netherlands, Finland and Canada's most populous province, Ontario, are currently running their own trials.
Approximately 250 Dutch are set to receive around $1,400 a month, 4,000 Canadians will receive up to $17,000 a year and 2,000 unemployed Finns will be paid about $840 monthly, regardless of whether they earn anything else or not.
But Finnish basic income researcher Otto Lehto from Kings College London says the Finnish trial, run by a centre-right Government, is too limited in scope.
"The idea of basic income has always been to really be universal and applicable to people at different points in their lives and in different employment situations," he said.
YouTube: Money music video
"The experiment will not test out whether self-employed people, students, entrepreneurs or so on will benefit."
But even if the trials prove that most people still want to work when they don't have to just to survive, will the better off want to pay a guaranteed wage for those who don't?
On this front I think Pink Floyd offers more insight than Dire Straits.
"Money, it's a crime. Share it fairly but don't take a slice of my pie ... if you ask for a rise it's no surprise that they're giving none away."
This is part two of a three part special by The Business and Business PM which looks at how automation will reshape the Australian workforce.


http://www.abc.net.au/news/2017-07-04/universal-basic-income-money-for-nothing/8676834
 

The_Hypocrite

Alfrescian (Inf)
Asset
[h=1]Rise of the machines: How artificial intelligence will reshape our lives[/h] By business reporter Carrington Clarke
Updated Mon at 9:09pmMon 3 Jul 2017, 9:09pm
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Video: How the automation revolution is set to replace white collar workers (The Business)
Related Story: AI coming sooner than you think, experts say
Related Story: Will there be any jobs left as artificial intelligence advances?

Map: Australia

The fourth industrial revolution is underway and it's threatening to wipe out nearly half the jobs in Australia.
[h=2]Key points:[/h]
  • The fourth industrial revolution will completely reshape the local jobs market, an economist says
  • Financial start-up says its business model is already making jobs obsolete
  • Job losses in finance have already begun


This latest round is characterised by intelligent robots and machine learning and PricewaterhouseCoopers economist Jeremy Thorpe said it's going to completely reshape the Australian jobs market.
"Over the next 20 years approximately 44 per cent of Australia's jobs, that's more than 5 million jobs, are at risk of being disrupted by technology, whether that's digitisation or automation," he said.
[h=2]Anticipating the rise of the machine[/h][h=2] [/h]It seems only a matter of time before intelligence breaks free of its biological bonds - Joe Gelonesi talks to two philosophers with profoundly different visions of technology and the future.

Stefan Hajkowicz, who is the principal scientist at the CSIRO, says it's white collar workers who are about to feel the pain.
"The sort of job losses that we did see in the manufacturing sector in Australia — the car manufacturing sector — are going to get into the administrative services and financial services sector in downtown CBD postcodes and that's the big challenge that lies in front of us," he said.
Mr Thorpe agrees, adding that white-collar workers in Australia were "the big growth sector over the last 30 years".
"We were the beneficiaries of globalisation and it's going to be a shock to the system when we see not just the growth temper, we actually see a decline in those sorts of jobs."
[h=2]Start-ups threatening existing jobs[/h]
GIF: 'Highly intelligent' robots have been represented on screen, including in I, Robot

Australian financial start up Stockspot says its business model makes thousands of highly paid jobs obsolete.
It claims that by using algorithms and automation instead of people, they can provide better financial advice at a cheaper price.
Founder Chris Brycki said some jobs, particularly in the financial services sector, don't add value.
"Financial services employs about 10 per cent of our workforce and, really, a lot of those jobs are unnecessary," he said.
"A lot of research analysts, stock pickers, stockbrokers, they don't actually add any end value for the consumer."
[h=2]Disruption to financial industry will flourish in next few years[/h]Mr Hajkowicz said the technology behind digital currency bitcoin — known as blockchain — also threatens to seriously shake up the industry.
"Blockchain and distributive ledger technology, if it plays out the way we think it can, this is the technology that sits behind the bitcoin currency and can be used for smart invoicing or auditing processes," he said.
"It could turn the job of 100 auditors into one."
The job losses in finance have already begun, with Westpac reducing its headcount over the last year.
[h=2]Will there be any jobs left as artificial intelligence advances?[/h]
If you're an accountant, lawyer or data analyst, a robot may soon take over your job.

But the real hit is still to come.
A Macquarie analyst recently predicted the big four might look to shed 20,000 jobs over the coming years.
It's already happened overseas. In the decade following the great recession, the banking workforce in the US dropped by around half a million people.
Mr Brycki said we will feel the pain here soon.
"The reason we are behind the US and the UK is that we didn't go through the financial crisis as badly, and that flushed out a lot of people from the industry," he said.
But it was only a temporary reprieve.
"A lot of people are still in the stale jobs in banks and it's not until the banks have to lay people off in the next few years that the [financial] tech industry and this disruption will really flourish," he said.
[h=2]Big tech giants may be 'better placed' to be a bank[/h]It's not just start-ups threatening existing business models.
The big tech giants are also continually innovating and threatening to push further into the finance space.
"Apple may be better placed to be a bank, Google might be better placed to be a bank than an actual bank because it has technology to facilitate the transaction," Mr Brycki said
He says young people eyeing off what are currently lucrative careers option will be forced to reconsider.
"I came in to the industry at the very top — it was around 2006 when I joined," he said.
"We'll probably never see that level of salaries and bonuses and the craziness in financial services because of the structural changes that are going to happen."
Mr Thorpe said the evidence is already building.
"It is the boiling frog syndrome that we are experiencing at the moment," he said.
"You may not realise that we're already seeing some jobs disappear, for some jobs are being restructured because of automation and digitisation."
This is part one of a three part special by The Business and Business PM which looks at how automation will reshape the Australian workforce.


http://www.abc.net.au/news/2017-07-03/how-artificial-intelligence-will-reshape-our-lives/8674576
 

The_Hypocrite

Alfrescian (Inf)
Asset
[video=youtube;7Pq-S557XQU]https://www.youtube.com/watch?v=7Pq-S557XQU[/video]


The rise of the machines and greater joblessness is here...soon most humans will be unemployed and only the rich will thrive,,,,,,
 

JohnTan

Alfrescian (InfP)
Generous Asset
Towkays will always survive. Be your own boss. Hire lots of machines.
 

The_Hypocrite

Alfrescian (Inf)
Asset
The bigger fish will survive,,,as they will move what they are buying from you in house,,,if the big companies can do themselves,,why would they want to give business to small time tow kays like you???

Towkays will always survive. Be your own boss. Hire lots of machines.
 

JohnTan

Alfrescian (InfP)
Generous Asset
The bigger fish will survive,,,as they will move what they are buying from you in house,,,if the big companies can do themselves,,why would they want to give business to small time tow kays like you???

If big companies can do it themselves, they would have done so by now.

Main con gets subcon to do most of the work. Big IT companies outsource to companies like Infosys.

There's always lots of crumbs for smaller towkays like myself.
 

The_Hypocrite

Alfrescian (Inf)
Asset
With increase automation,,,it will be cheaper for big companies to do it themselves,,,,

If big companies can do it themselves, they would have done so by now.

Main con gets subcon to do most of the work. Big IT companies outsource to companies like Infosys.

There's always lots of crumbs for smaller towkays like myself.
 

JohnTan

Alfrescian (InfP)
Generous Asset
With increase automation,,,it will be cheaper for big companies to do it themselves,,,,

Assuming that their wives are too fat, do most guys have a habit of jerking themselves or getting some girl to jerk them off for a fee? That's pretty much what us small subcons do regardless the industry.
 

eatshitndie

Alfrescian (Inf)
Asset
Robots will destroy the economy.ultimately the rich have the most to lose.

tiongbu handjobbers are already complaining about competition.

IMG_0261.JPG
 

The_Hypocrite

Alfrescian (Inf)
Asset
[h=1]The G20 failed our youth as globalisation, deregulation and technology alienates workers[/h]Analysis By business editor Ian Verrender
Updated earlier today at 5:27amMon 10 Jul 2017, 5:27am
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Video: Hamburg cleans up after a weekend of G20 protests (ABC News)
Related Story: Scuffles, water cannon at final anti-G20 march in Hamburg
Related Story: Probyn: Solving the wage-growth puzzle the key to the next election
Related Story: Wage growth remains stuck at record lows: ABS

Map: Australia

The rumblings grew louder even before they'd gathered for the meetings.
On the streets of Hamburg, mass protests erupted into violence as the world's top 20 leaders faced off against each other in what has become a familiar scene, as heavily armed riot police confronted masked protestors.
At almost the same time last Thursday evening, a similar sense of unease was building among a distinctly different milieu as twitchy bond traders peering into their screens from Wall Street to London and across Europe hit the sell buttons, sending interest rates spiking.
While seemingly unrelated, both events bookend an economic phenomenon that appears to be close to breaking point or, at the very least, running its course.
[h=2]Trump's awkward performance[/h]
At G20, Donald Trump was an awkward figure and you got the sense leaders were trying to find the best way to work around him, writes Chris Uhlmann.


At one end is the huge build-up of debt that initially drove global economic growth for three decades until 2008 before accelerating to warp speed in a desperate bid to save capitalism from itself.
And at the other, a growing animosity at the way wealth has been diverted away from lower and middle-class workers; a phenomenon fuelling the rise of extreme left and right-wing ideologies that has manifest itself in a series of political shocks across the developed world
Think Brexit, Donald Trump's ascendancy to the White House and the stunning events in French politics.
Just to reinforce that point, on Friday night, as the G20 leaders made their awkward introductions, US jobs growth data came in better than expected, even though the unemployment rate ticking up a notch to 4.4 per cent.
Those rosy headline numbers, however, hid two disturbing trends. Just as in Australia and across the developed world, wage growth is abysmal. And the proportion of employable Americans who have given up looking for work is at its worst in decades.
[h=2]What's driving this?[/h]If you want to understand why the developed world is in such upheaval, and why politics has become so volatile, this graph of Australian wages explains it all.
Infographic: Wages as a Proportion of the Economy 1960-2017. Source: ABS
It's not just that wage growth here is the lowest on record. Wages, as a share of nominal economic output, has fallen to its lowest level since the Australian Bureau of Statistics began collecting the figures back in 1959. It's now dropped to just 46.2 per cent of GDP.
If you superimposed a graph of corporate profits as a share of GDP over the top, it represents a mirror image, in reverse. Profits, as a share of GDP, are on track to break a new record following a sharp upward trend in the past few years. It's a similar story in the US and Europe.
Given wages are the biggest cost for most businesses, that inverse relationship is not surprising. But it helps explain the disillusionment and the angst driving the political unrest across the US, Europe and here.
The flow-on effect has been a concentration of wealth, to the highest levels since the 1920s. The uber-rich are becoming obscenely wealthy while everyone else is struggling.
It's a trend no longer confined to the developed world or western societies. China, the world's fastest growing major economy and the global economic powerhouse since the great financial crisis, has created a class of billionaires to rival anything in the west as its debt levels have soared into the stratosphere.
Infographic: China's growing wealth gap 1995-2015
[h=2]Productivity, debt and theft[/h]Macquarie analyst Viktor Shvets, whose analytical powers have upset many in the corporate world during the past three decades, reckons that low productivity throughout developed economies ultimately is to blame for where we are now.
[h=2]Property bust triggers[/h]
We're at record levels of household debt, but it's not just debt that's threatening the housing market, writes Ian Verrender.

Rather than accepting less income — both corporates and wage earners — the response during the 1980s was to deregulate, to get government out of the way. And it was the financial sector deregulation in the 1980s that unleashed the great tide of debt that now threatens to drown the global economy.
"The purpose was to give people the freedom to try to make money through greater flexibility, asset prices, and leveraging rather than through conventional wages and earnings," he said in a recent interview.
The problem with debt is that all it does is bring future consumption forward. At some stage, the debt must be repaid. As Shvets notes, it pushes asset prices such as real estate higher.
For the generation that rode that boom, it's been an era of wealth creation like no other. But for the following generation, it's a situation that bodes ill and breeds discontent. They will pick up the tab, in the form of higher prices. Many believe their future has been stolen.
[h=2]The role of technology[/h]The conventional wisdom is that productivity is driven by technological innovation. Better tools make for smarter work practices. You can dig a lot more ground with one of Kerry Stokes' Caterpillars than a shovel.
But technology has a corresponding negative social impact. Workers are displaced, and rising unemployment results in lower wages.
[h=2]Which jobs will AI take over?[/h]
Machines have long been replacing blue collar factory workers, but now artificial intelligence is threatening white collar jobs.

When that technology crosses borders and breaks down barriers, as the internet has done, the economic impact is accentuated. It allows corporations to exploit cheaper labour in other countries, laying waste to industries and communities in other areas.
That results in lower wages and a greater proportion of workers who give up looking for work because it simply isn't there. That, in turn, makes the workforce less productive.
In the past few months, almost every economist in the country, including Reserve Bank governor Philip Lowe, has come to realise that our low wages growth has begun to stifle our growth prospects.
With Australian household debt at Olympic gold standards, the prospect of a sharp rise in defaults — either in housing or other areas such as power bills — has become a real threat.
What irony then that a fortnight ago, after a vigorous campaign by vested interests, the country's lowest paid workers were delivered a pay cut via a reduction in penalty rates.
[h=2]Wage cut could backfire[/h]
Businesses are hoping to profit from the Sunday penalty rate cut, but their workers are also ultimately their customers.

At some stage, Australian business leaders may come to realise that their workers are also their customers. Lower wages will hit consumption. And that will hit profits.
The gleeful support for the Fair Work Australia decision to slash penalties from those within the Federal Government may be short lived. Budget repair depends on bracket creep from wage and salary earners. You don't get that by cutting wages.
[h=2]Fourth industrial revolution[/h]There's no turning back the tide of technology. The internet won't be unwound. In fact, the pace of innovation is likely to accelerate.
As the ABC's The Business highlighted in last week's three part series The Rise of The Machines, automation and artificial intelligence soon will sweep through the white collar world.
[h=2]Money for nothing[/h]
Is a universal basic income the answer if robots create mass unemployment?

That raises questions about how we will support an economy, if even larger numbers of worker are displaced. Taxing the wealthy to support the unemployed has never been a vote winner.
And while the new industrial revolution will create a whole series of new jobs competition and pressure on wages except for those at the peak will only intensify.
For years, the Occupy movement was dismissed as nothing more than a piece of theatre from idle youth and an odd assortment of professional protestors.
Globalisation, deregulation and technology have combined to alienate vast numbers of workers and otherwise model citizens. They're now demanding answers and action from the state. They want their governments to act.
But is anyone really listening?


http://www.abc.net.au/news/2017-07-10/g20-globalisation-failed-our-youth/8692310
 
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