From burger-flipping machines to car-building robots—not to mention high-powered software taking on more and more administrative tasks—it seems like hundreds of skills are rapidly becoming obsolete in the U.S. economy. A recent McKinsey study found that AI and Deep Learning could add as much as $3.5 trillion to $5.8 trillion in annual value for companies. The economic shock of the coronavirus pandemic hasn’t helped. In fact, Covid-19 could be accelerating the pace of automation.
CORRECTION This video misstated Marcus Casey’s title. He's an associate professor of economics at the University of Illinois at Chicago.
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CORRECTION This video misstated Marcus Casey’s title. He's an associate professor of economics at the University of Illinois at Chicago.
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Francisco Gimeno - BC Analyst There is a general consensus which thinks COVID19 has jus accelerated changes already happening in all sectors. Economic crisis, politics, cultural mores, but the impact is very strong both in jobs and automation. With tech becoming cheaper, better, automation substitutes humans, who have to get new skills not to become obsolete for the consumerism capitalism culture. The paradigm change happening towards a digital economy is fast, hard, and many are not prepared for it.