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How we’ll earn money in a future without jobs | Martin Ford

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Machines that can think, learn and adapt are coming — and that could mean that we humans will end up with significant unemployment.

What should we do about it? In a straightforward talk about a controversial idea, futurist Martin Ford makes the case for separating income from traditional work and instituting a universal basic income.

How does the rapid development of automation and artificial intelligence impact the employment landscape?

The development of automation and artificial intelligence is rapidly transforming the employment landscape. It is now clear that robots and algorithms will take over many jobs that were previously done by humans.

According to Martin Ford, a prominent author in the area of automation, this trend is only going to accelerate. In his 2015 book “Rise of the Robots”, Ford predicts that up to 80% of current jobs could become automated within the next few decades.

This means that we need to start thinking about a future where there are few jobs available for humans. But how will we earn money in this world?

One possibility is a basic income guarantee. This is a system where every citizen receives a certain amount of money from the government, regardless of their employment status. The idea is that this would provide a safety net for people who lose their jobs to automation, and allow them to live with dignity while they search for new opportunities.

Another option is a shift towards a sharing economy. This model is already being used in many industries, with companies like Uber and Airbnb allowing individuals to monetize their spare time and resources. In a future without jobs, this concept could be taken even further. People could share their homes, cars, and other assets, and earn money through platforms that facilitate these transactions.

A third possibility is entrepreneurship. With so many jobs being automated, there will be a greater need for people who can design and build the machines that will do the work. There will also be opportunities for people who can create non-automatable services or products, like artisanal goods or personalized experiences.

A fourth option is re-skilling. As certain jobs become automated, there will be a need for workers to learn new skills that can’t be replicated by machines. For example, jobs that require empathy, creativity, or critical thinking might be in demand. There could also be a growing need for individuals who can do the maintenance and repair work on the automated systems that will be powering our economy.

Of course, these are just a few possibilities for how we might earn money in a future without jobs. It’s clear that we will need to be creative and adaptable in order to thrive in a world that is being transformed by automation.

But one thing is certain – the future will require us to think in new ways about work, income, and the role of technology. The sooner we start preparing for this shift, the better equipped we will be to face the challenges and opportunities that lie ahead.