Dear Sir:
I have written before about the impact of the technologies of the fourth industrial revolution, robotics, artificial intelligence, machine learning, on the job market. This revolution will increasingly polarise labour as low skilled jobs are automated and the same spreading to middle class jobs, e.g. financial services, business process outsourcing, areas that some are considering as diversification objectives.
This revolution could yield inequity, particularly in its ability to disrupt labour markets – restaurants are already toying with the robots to replace service staff. The rewards of the revolution will shift even more so to the highly skilled, followed by investors and capital. These technologies will displace many workers so much so that full employment will not be necessary to produce the goods and services required by the economy.
