There’s been a lot of talk of the U.S. losing jobs to other countries through bad trade deals, and anger over this issue has helped give Donald Trump the Presidency.
Yet reality is much more complicated, as automation, robots and now artificial intelligence are also a huge factor, and these trends will help destroy even more jobs in the years to come.
Some of this is obvious. Just think about all of the robots and automation that have reduced the number of workers needed in manufacturing. We all want high wages for workers, but higher wages give companies even more motivation to automate more of the manufacturing process. As robots get smarter and more sophisticated, this trend will only accelerate.
Then consider artificial intelligence and the potential to make lawyers and accountants so much more efficient, which then reduces the need for more lawyers and accountants.
This trend will only accelerate, which raises tough issues for our leaders, particularly those who offer simplistic solutions to difficult problems.
