Is a Universal Basic Income the Answer to Automation-Caused Unemployment?

DATE: 25/12/2016

While technological advancements in artificial intelligence (AI) and robotics will clearly make a lot of processes easier and more cost-effective, the impending repercussions need to be addressed before the inevitable happens. As automation begins to take over several jobs, the world is turning to universal basic income (UBI) as a possible solution to the anticipated unemployment it will create, which is estimated to be in the millions by the end of the decade.


Several countries have announced plans to conduct test runs for UBI systems, including the Netherlands, Finland, Canada, and Uganda, so hard data on the practicality and pros and cons of such systems should be coming soon. With an estimated 57 percent of the world’s jobs at risk of being replaced by automated systems, that insight can’t come soon enough.


No comments: