Thursday, May 29, 2014

Business Insider- Bill Gates on How Science will affect the Job Market

Of course, many people wonder if they will be replaced by robots or computers ( my wife's cousin had the same job for 30 years and at the very end was almost replaced by a computer program...except there was nobody in the office who really could get the program to work right.
She is now retired and SO glad to get out of that job)...



Bill Gates: People Don't Realize How Many Jobs Will Soon Be Replaced By Software Bots

 

TO SEE VIDEO:

http://www.businessinsider.com/billhttp://www.businessinsider.com/bill-gates-bots-are-taking-away-jobs-2014-3 -gates-bots-are-taking-away-jobs-2014-3



Bill Gates CES
Bill Gates
Big changes are coming to the labor market that people and governments aren't prepared for, Bill Gates believes. Speaking at Washington, D.C., economic think tank The American Enterprise Institute on Thursday, Gates said that within 20 years, a lot of jobs will go away, replaced by software automation ("bots" in tech slang, though Gates used the term "software substitution").
This is what he said:
"Software substitution, whether it's for drivers or waiters or nurses … it's progressing. ...  Technology over time will reduce demand for jobs, particularly at the lower end of skill set. ...  20 years from now, labor demand for lots of skill sets will be substantially lower. I don’t think people have that in their mental model."
He's not the only one predicting this gloomy scenario for workers. In January, the Economist ran a big profile naming over a dozen jobs sure to be taken over by robots in the next 20 years, including telemarketers, accountants and retail workers.
Gates believes that the tax codes are going to need to change to encourage companies to hire employees, including, perhaps, eliminating income and payroll taxes altogether. He's also not a fan of raising the minimum wage, fearing that it will discourage employers from hiring workers in the very categories of jobs that are most threatened by automation.
He explained:
"When people say we should raise the minimum wage. I worry about what that does to job creation ... potentially damping demand in the part of the labor spectrum that I’m most worried about."


NOW WATCH: Here's How Elon Musk Can Tell If Job Applicants Are Lying About Their Experience


 

 

Bill Gates CES
Bill Gates
Big changes are coming to the labor market that people and governments aren't prepared for, Bill Gates believes. Speaking at Washington, D.C., economic think tank The American Enterprise Institute on Thursday, Gates said that within 20 years, a lot of jobs will go away, replaced by software automation ("bots" in tech slang, though Gates used the term "software substitution").
This is what he said:
"Software substitution, whether it's for drivers or waiters or nurses … it's progressing. ...  Technology over time will reduce demand for jobs, particularly at the lower end of skill set. ...  20 years from now, labor demand for lots of skill sets will be substantially lower. I don’t think people have that in their mental model."
He's not the only one predicting this gloomy scenario for workers. In January, the Economist ran a big profile naming over a dozen jobs sure to be taken over by robots in the next 20 years, including telemarketers, accountants and retail workers.
Gates believes that the tax codes are going to need to change to encourage companies to hire employees, including, perhaps, eliminating income and payroll taxes altogether. He's also not a fan of raising the minimum wage, fearing that it will discourage employers from hiring workers in the very categories of jobs that are most threatened by automation.
He explained:
"When people say we should raise the minimum wage. I worry about what that does to job creation ... potentially damping demand in the part of the labor spectrum that I’m most worried about."


NOW WATCH: Here's How Elon Musk Can Tell If Job Applicants Are Lying About Their Experience


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