Does IoT mean mass unemployment?

Culture, Philosophy, and Humanity , Economics, Industry, and Business

“If we do this wrong, the technology providers could end up destroying hundreds of millions of jobs with products and services in the cloud, which makes these businesses indispensable and very rich,” says Gerd Leonhard, futurist, author and CEO of The Futures Agency.

Automation and the Internet of Things is making the threat of mass unemployment a very real possibility. The Guardian interviewed Gerd Leonhard to gain some insight on the matter.

Leonhard suggests this will fit into what he calls, “a decline of the capitalist system based on consumption.” We will have to rethink the concept of work and jobs he says. “While we will be freed up from a lot of jobs that no one wants to do, we will have to think collectively about how we cope with this otherwise we will have huge structural issues with kids unemployed,” he says. And do the kids care? Or are they heading into a Britannia Unchained world of idleness?

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