What happens when the vast majority of non-creating (design, development, etc) jobs are eliminated? What happens when most retail becomes like grocery stores with self-checkout because that drastically reduces labor costs? Assuming Amazon, et al don’t replace most retail stores. Burger flipping ain’t that hard to automate, either. Full-time leisure time for all or grinding poverty on the government tit?
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”).