Robots to pose new challenge for governments in creating jobs for humans

In a world where robots do retail shopping, autonomous cars take the roads processing images of everything that goes on in the streets, Artificial Intelligence does more and better than humans, and 3D printing manufactures functional products in multiple materials, how will governments address the challenge of human jobs being made redundant?

In a plenary session at The Government Summit in Dubai on ‘The World in 2050,’ Dr. Peter Diamandis, Co-Founder of the Singularity University and Founder of the X-Prize, observed that harnessing the power of quantum computing and genome sequencing, alongside the evolution of AI and robotics, will be a fundamental decision governments will have to make in relation to human job creation.

“Some 50 percent of our service jobs will be up for grabs to Artificial Intelligence, and how we handle it is our challenge,” he said.

However, Dr. Diamandis painted an optimistic note highlighting that the world today is witnessing the greatest era ever in innovation, as well as enjoying the most peaceful time in human history.

Underlining the power of computing, Dr. Diamandis said the era of robotics is not a distant future but a short-term reality, with robots already undertaking complex and critical functions such as in healthcare, which makes undertaking complex surgeries independent of physical geographies.

He said the advances in 3D printing, likewise, is making manufacturing geography-independent, while robots will further pose intense competition to the labour force, making countries independent of external labour. “In such a scenario, the cost of labour will drop significantly, and will be just the cost of powering the machines.”

Dr. Diamandis said the world has changed from thinking ‘local and linear’ to being ‘global and exponential’ which extends the limits of possibilities. “Ina local and linear world, the changes were gradual with everything that affects a human being happening in the distance of a day’s walk.”

Today, however, the world is changing year to year led by the exponential growth of technology, he said. “This could lead to disruptive stress or disruptive opportunity,” adding that according to reports, nearly 40 percent of the Fortune 500 companies today will cease to exist in a decade’s time due to the technological disruption and their inability to adapt to the changes.

He said that computing power is growing at an exponential rate which is independent of wars or financial crises. “Faster, cheaper computing is driving a whole array of technologies today, and technology convergence is leading to unexpected results that change the world.”

Dr. Diamandis also pointed out the power of quantum computing, which will make encryption redundant, while a trillion sensors will soak up everything around, opening up questions on privacy. On the 3D printing front, he said the world is witnessing unprecedented revolution with anything from motorcycles to prosthetic limbs and even food, being manufactured by machines.

On the human front, technological advancements are prolonging life expectancy and transforming healthcare. “Today, 100 (years of age) is the new 60.”

While challenges are posed by technological advancements to humanity, Dr. Diamandis said there is tremendous opportunity that is as yet untapped, such as solar power and water, adding that the world can easily steer into an era of abundance.