Harvard Business Review: Why the automation boom could be followed by a bust?

Harvard Business Review, March 13, 2018: Why the automation boom could be followed by a bust?

You may not be sharing your office with a robot yet, but the next wave of automation has begun. Humanoid service robots, machine learning algorithms and autonomous logistics will replace millions of service workers in the coming decade. Experts are rushing to forecast the likely impact on jobs. But most projections overlook two powerful forces that will combine with automation to reshape the global economy by 2030: rapidly aging populations and rising inequality.

The collision of these three forces sets the stage for a 10- to 15-year economic boom followed by a bust. An aging workforceadvances in automation, and growing income inequality point to an era of rapid and volatile change — and greater economic disruption than we have seen over the past 60 years. In the coming decade extremes are likely to become more extreme.

Print Friendly, PDF & Email