Exponential Technologies which are fuelling the 4th Industrial Revolution are about to make a large chunk of today’s job obsolete and not replenishing with new ones to the same degree… but how much does it pause a threat to our Capitalist economic system overall?
I believe, and it will take courageous leaders, that companies have to embark on an Innovation Journey and that they have a strong responsibility in defining and helping shape the jobs of the future and the future of jobs if we want our capitalist eco-system to survive.
One of the most profound messages delivered by Singularity University Canada Summitwhich took place in Toronto recently, is that Exponential Technologies are reshaping our world as we know it, and will continue to have a more profound impact with time.
Powerful Leaders have recently voiced their concerns on the implications of these Exponential Technologies for the job market and advocate for governments to implement a Universal Basic Income (UBI) mechanism.
What could be the long-term impact of UBI implementation on companies’ potential growth as less people will have discretionary income to spend on expensive products & services? If we go full scale on UBI, will this put a cap or even an end to our capitalist system?