Technological advancements are changing
the prospects for employment
at an unprecedented speed.
Things that just 5 years ago were done by humans,
are now done by machines and code.
The long-term benefits are probably positive
as things will likely become cheaper
and we’ll have more time for leisure.
Until then individuals not prepared for the changes
may be replaced by machines,
get laid off or take pay cuts.
To figure out if your job will be affected,
MIT economist David Autor
defined three questions you should ask yourself.
First, will technology compliment
or replace the job you provide?
Computers can’t think for themselves.
But they can and will do jobs that follow clear rules
so programmers can tell them what to do.
Therefore, people employed in jobs
that can be programmed away
will be driven out of work
or find themselves in less paying positions.
On the other hand,
people that use technology to become more productive,
will hold onto their positions
and even see a raise in income.
Second, is the demand for the product
or service you help provide elastic?
If you run a cleaning service in a city where most people
still mop their own floors,
technology might help you to offer
your services more efficiently.
The resulting lower prices,
makes your service suddenly more attractive
to low-income households
and the additional demand creates new jobs.
However,
if you work in the kitchen of a noodle shop empire
there will be a point at which no matter
how efficient you make the noodles,
people won’t buy an additional bowl
- they are full.
Therefore, the quantity demanded for food
is not very elastic
and more efficiency will not create more jobs,
but rather the opposite.
Third, can you easily be replaced by other people?
If your job is easy to learn and can be done by others,
then you will feel pressure on your wages.
But if you are highly skilled or you possess unique character strengths,
then there will be less competition for your position.
Thus offering you job security and a stable income.
Until societies implement good models
to share the wealth and the leisure time
that technological advances will bring us,
the most creative problem solvers
and adaptive team players
will reap the fruits of an uncertain future.
Children that start school today,
will look for a job in 20 years.
What do you think?
What jobs will most likely disappear in your community
and how should schools and parents
prepare their kids to do meaningful work then?