Technology is replacing jobs | Are you prepared?
Summary
TLDRThe video examines how technology and globalization are transforming the job market at an accelerating pace, putting millions of jobs at risk. It traces how innovations have made labor more efficient yet caused job losses throughout history. Today, artificial intelligence and automation threaten jobs once considered safe, from truck drivers to lawyers. Already, computers excel at human tasks like playing chess and composing music. The narrator warns that nearly half of all jobs may eventually be automated. While new jobs will emerge, enormous, difficult transitions lie ahead that will affect all communities. We must continually gain new skills to avoid being left behind in this job market revolution unfolding now.
Takeaways
- 😲 Technology and globalization are destroying jobs at an unprecedented rate
- 🤖 Computers are rapidly gaining capabilities that allow them to perform human jobs
- 🚗 Driverless vehicles threaten millions of driving jobs
- 🏥 AI and robots can do many routine medical jobs cheaper and better
- 👩🍳 Robotic chefs can replace human cooks in restaurants
- 📈 Nearly half of all jobs may be automated in the next 20 years
- 🌎 Outsourcing legal and other high-skill work overseas threatens those jobs
- ➕ While destroying some jobs, technology creates new industries and jobs too
- 📝 We'll need to learn new skills constantly to avoid being left behind
- ⌛ This job disruption is happening now, not in some distant future
Q & A
What two major forces are causing job losses in America?
-The two major forces causing job losses are technology (such as robotics, AI, and automation) and globalization (companies moving jobs overseas).
Which jobs are most at risk of being replaced by technology?
-Routine and repetitive jobs like manufacturing, truck driving, cooking, and even some medical roles are most at risk of replacement by technology and automation.
How long have humans been developing technologies to make life easier?
-For over 3 million years, humans have developed technologies to increase efficiency and make life easier.
What is predicted about the future of jobs and technology?
-An Oxford study predicts that within 20 years, 47% of all jobs are at risk of being replaced by technology - that's over 70 million jobs.
How has technology already impacted jobs today?
-Technology has already automated many routine jobs in manufacturing, driving, medicine, service roles, and more over the past few years.
How quickly is computer processing power increasing?
-Since 1965, computer processing power has roughly doubled every two years.
How can technology and globalization also create jobs?
-While destroying some jobs, technology and globalization can also create new jobs, industries, and markets for American products and services.
Why do we need to constantly learn new skills today?
-As jobs rapidly change with advancing technology, we need to constantly learn new skills to avoid our skills becoming obsolete.
When is this job revolution happening?
-This revolution in the job market driven by technology and globalization is happening now, not in the distant future.
What types of jobs are at risk from technology and globalization?
-Both blue collar and white collar jobs are at risk - from manufacturing to law and medicine. Young and old workers face transitions.
Outlines
😧 Technology and globalization displacing human jobs
This paragraph discusses how throughout history, technological advances have made humans more efficient but displaced certain types of jobs and laborers. It states that this process is accelerating today with innovations in robotics, computing, and networking that can automate many routine jobs. Also globalization makes it easier for companies to move jobs overseas. These forces threaten jobs in manufacturing, hospitals, restaurants, and more.
😟 Mass displacement of jobs coming soon
This paragraph continues by predicting that 47% of jobs are at risk of replacement by technology within 20 years, affecting over 70 million people. It also states that globalization now threatens high skill jobs by enabling law firms to outsource legal work overseas at lower cost. As jobs are destroyed by technology and globalization, new industries and markets will be created, but transitions will be difficult. People will need to learn new skills constantly to avoid being left behind, and this revolution in the job market is happening now, not in some distant future.
Mindmap
Keywords
💡automation
💡artificial intelligence
💡jobs
💡transitions
💡skills
💡globalization
💡white-collar
💡processing power
💡drivers
💡economy
Highlights
For millions of years, humans have developed technologies to make our lives easier, but each new development came at a cost
New technologies like robotics, AI, and networking are automating routine jobs at an unprecedented rate
Globalization makes it easier for companies to move jobs overseas where wages are lower
In the past 20 years, technology and globalization have wiped out millions of manufacturing jobs
Computer processing power has roughly doubled every two years since 1965
AI can now easily beat humans at chess, recognize faces and language, and even compose music
Driverless cars threaten millions of driving jobs in the coming years
In hospitals, computers are learning to analyze scans, deliver anesthesia, and perform procedures
In restaurants, machines can follow recipes perfectly without breaks
47% of jobs are at risk of being replaced by technology within 20 years
Developing countries can perform legal and research work for US firms at a fraction of the cost
New technologies destroy old jobs but also create new industries and markets
Millions will face difficult job transitions as they're forced to learn new skills throughout life
This revolution in the job market is happening now and will accelerate greatly
It will affect all of our lives - we need to be ready
Transcripts
foreign
what can we do to protect ourselves from
robot automation the CEO explained that
machines will replace traditional labor
this is all about artificial
intelligence and how much faster it can
process human labor is never going to be
cheaper as we get more advanced and
we're just going to have to adjust to
that and deal with the results
[Music]
for 3.3 million years humans have
developed Technologies to make our lives
easier
[Music]
these inventions made us more efficient
it meant we didn't have to spend as much
effort working to survive
[Music]
but each new development came at a cost
when bronze tools were invented all the
guys who made Stone twos were driven off
work
and when iron twos came along all of the
bronze workers lost their jobs
when the Industrial Revolution hit it
wiped out the livelihoods of millions of
cobblers and Weavers who had to adapt or
get left behind
and this process continues today
only now it's happening faster
much much faster
[Music]
all kinds of routine jobs have become
automated in the past few years thanks
to breakthroughs and Technologies like
Robotics and radio frequency
identification Computing and high-speed
networking
and at the same time another powerful
force globalization is making it easier
for companies to move jobs overseas
where wages are lower and regulations
are less stringent
in the past 20 years these forces
technology and globalization have wiped
out millions of American jobs in
manufacturing from Detroit's Auto plans
to North Carolina's textile mills
and it's not just manufacturing jobs
we're now entering a dramatically new
phase where High skill jobs are also at
risk
here's why
since 1965 computer processing power has
roughly doubled every two years
all of the computing power that
controlled the Apollo Mission To The
Moon can now fit on the chip inside your
smartphone
and in a few decades computers will be
thousands of times more powerful than
they are today
already computers use artificial
intelligence to easily beat the world's
greatest Chess Masters
recognize faces understand spoken
language
and even compose music
[Music]
they can do many of the things that
we've always thought made as human and
that threatens many of the jobs we've
always thought were secure yeah
take Drive in a vehicle which is one of
the top jobs in Most states in America
with driverless cars already on public
roads millions of truck drivers bus
drivers and taxi drivers May soon find
themselves obsolete
in hospitals hundreds of thousands of
jobs are on the line as computers learn
to analyze CAT scans and biopsies
deliver low-level anesthesia and even do
surgical procedures
and in restaurants hundreds of thousands
of cooks may be replaced in the coming
decades by machines that can follow
recipes perfectly without ever taking a
sick day or a smoke break
and Oxford University study predicts
that within 20 years 47 percent of all
jobs are at risk of being replaced by
technology
that's over 70 million people
and at the same time globalization is
also affecting High skill jobs in ways
that it never has before
law firms for example are beginning to
Outsource work to lawyers in developing
nations who are trained in American law
these lawyers can do legal research and
even review contracts for a fraction of
the cost of an American lawyer
now just as technology and globalization
destroy jobs it's important to point out
that they also create jobs by generating
new Industries and new markets for
American Products
we don't know exactly what the future is
going to look like but we do know this
millions of American workers white
collar and blue collar young and old are
about to face enormous difficult
transitions
yeah
we're living longer than ever before and
will be forced to change our jobs more
often than any people in history
we're going to need to learn new skills
constantly throughout our careers to
keep from being left behind
[Music]
this revolution in the job market is not
coming in the distant future
it's happening now and it's going to
accelerate
it's going to affect all of us our
friends our families and our communities
are you ready
visit us at workingnation.com
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