Bill Gates on Automation Eliminating Jobs: “Labor Demand for Lots of Skill Sets Will be Substantially Lower”
March 15th, 2014Via: Business Insider:
Big changes are coming to the labour 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 than 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”).
This what he said:
“Software substitution, whether it’s for drivers or waiters or nurses … it’s progressing. … Technology over time will reduce demand for jobs, particularly at the lower end of skill set. … 20 years from now, labour demand for lots of skill sets will be substantially lower. I don’t think people have that in their mental model.”
