A universal basic income funded by a value-added tax, which is a tax placed on a product whenever value is added at each stage of the supply chain, from production to the point of sale, would spread the benefits of automation to a much wider group of people.
Automation is no longer just a problem for those working in manufacturing. Physical labor was replaced by robots; mental labor is going to be replaced by AI and software.
The impending destruction of jobs due to automation and AI technologies is definitely increasing the need for - and speed at which - we have to implement big solutions, such as a universal basic income.
Automation has emerged as a bigger threat to American jobs than globalization or immigration combined.
The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency.
With greater extensibility and programmability, bitcoin can evolve to enable transformations in how all forms of property are secured and exchanged, how voting and governance function, including spilling into the automation of commercial law, audit, and accounting.
Income taxes are very poor at generating income from automation because the gains are realized by technology companies that are experts at not paying taxes.
For the blue-collar worker, the driving force behind change was factory automation using programmable machine tools. For the office worker, it's office automation using computer technology: enterprise-resource-planning systems, groupware, intranets, extranets, expert systems, the Web, and e-commerce.
All in all, I don't think robots and greater automation can bring about a utopian world as I imagined it would as a kid 50 years ago.
Innovation hubs are going to be in cities focused on the industries and clients of that city. So in Houston, it's focused on our industrial companies, particularly the energy sector, robotics, and automation.
Advances in automation, artificial intelligence and robotics, while increasing productivity, will also cause major upheavals to the workforce.
Automation is driving the decline of banal and repetitive tasks.
We're at the beginning of the digitization and automation of biotech.
Documenting and recording paperwork, managing services like passport renewals, and processing patent applications are practices that could all be dramatically improved with robotic automation.
Industrial jobs are disappearing, and they will continue to disappear owing to productivity gains from automation. Thus, social models that were created to fit industrial and early service economies will no longer be viable. As the industrial workforce shrinks, the social model founded on it will go, too.
Increasingly, the work we do is enabled more and more by new IT, including automation, robotics, and intelligent platforms.