Wednesday, April 30, 2014

"Is your job at risk from robot labor?"

"Is your job at risk from robot labor?" [infographic and source]

Infographic based on this report from Oxford University.

Key insight from the report: "According to our estimate, 47 percent of total US employment is in the high risk category, meaning that associated occupations are potentially automatable over
some unspecified number of years, perhaps a decade or two."

This suggests a reasonable possibility for nearly 1/2 of existing jobs to become obsolete in the span of 10 years. This is harrowing.  In context, at the peak of the great depression, there was at most 25% unemployment [wikipedia]. Nazis came to power in 1933 with 30% unemployment [wikipedia]. What would be the consequences of 50% unemployment?