The End of Jobs: Will AI Automate Many Middle Class Jobs?
Manufacturing output continues to improve, even though the number of manufacturing jobs in the U.S. continues to decline and this trend will not stop. Source: Robotics Industries Association Source: Robotics Industries Association Costs are plunging In 2010 the average cost of a robot was $150,000; today the price has dropped to below $25,000, a drop of over 80%. The death of Unions Unions continue to push for higher minimum wages while the purchasing price of robots continues to decline; a deadly and probably fatal punch for the majority unions. Full Story Stephen Hawkings "the automation of factories has already decimated jobs in traditional manufacturing, and the rise of artificial intelligence is likely to extend this job destruction deep into the middle classes, with only the most caring, creative or supervisory roles remaining." As machines replace humans, the cost of producing goods will drop, and as more people will be competing for the remaining jobs, wages will trend downwards.
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