Executive Briefings

Shift to Automation May Prevent Trump From Delivering on His Jobs Promise

Trump's victory was enabled by technology - everything from his use of social media to Clinton's email scandals to Russian hacking. But advancements in technology and how they reshape our economy may also keep him from delivering on some of the major promises that made him so popular during the campaign season.

Over recent decades, globalization has caused the loss of millions of jobs in the United States. Trump played to these fears and promised his supporters what he knew they wanted: greater economic opportunity by bringing back jobs shipped overseas.

But those jobs, many in the manufacturing sector, are increasingly done by technology. Machines are learning to do the jobs of manufacturing workers; artificial intelligence-based tools are mastering the jobs of call-center and knowledge workers; and cars are beginning to drive themselves.

Over the next decade, many predict that technology will decimate more jobs in many professions, inequality will increase and more people will be disadvantaged.

Some robots already cost less to operate than the salaries of the humans they replace, and they are getting cheaper and better. Boston Consulting Group predicts that, by 2025, the operating cost of a robot that does welding will be less than $2 per hour, for example.

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Over recent decades, globalization has caused the loss of millions of jobs in the United States. Trump played to these fears and promised his supporters what he knew they wanted: greater economic opportunity by bringing back jobs shipped overseas.

But those jobs, many in the manufacturing sector, are increasingly done by technology. Machines are learning to do the jobs of manufacturing workers; artificial intelligence-based tools are mastering the jobs of call-center and knowledge workers; and cars are beginning to drive themselves.

Over the next decade, many predict that technology will decimate more jobs in many professions, inequality will increase and more people will be disadvantaged.

Some robots already cost less to operate than the salaries of the humans they replace, and they are getting cheaper and better. Boston Consulting Group predicts that, by 2025, the operating cost of a robot that does welding will be less than $2 per hour, for example.

Read Full Article