Automation is a direct result of humankind’s achievements in the development of new technology. Initially, developments in technology functioned to benefit humanity, they still do; the only difference is that now, they also work to the detriment of humanity. According to various studies on the job market in the United States in the past year, more than 7 million people will lose their jobs to artificial intelligence in 2020 (Brown, 2019). The figures have since changed due to the immense job loss caused by the coronavirus pandemic. The pandemic, which requires social distance and has forced many to work from home, further encourages automation. The biggest concern among many analysts is that machines may replace billions of people on factory floors around the world and in routine jobs whose skills can easily be programmed into machines. Despite the obvious detrimental effects of automation, some jobs will be made easier with automation, for instance, people whose jobs are specialized but still require the performance of many repetitive tasks (Brown, 2019).
According to a white paper presented by Andrew Yang’s campaign, the use of a Universal Basic Income (UBI) would increase the economic growth by 13 percent in the next five years (Yang, 2020). Additionally, it would lead to growth in the number of skilled employees available by 4.7 million people in the same period (Yang, 2020). UBI would provide millions the opportunity to seek better employment and not settle for poor working conditions to earn a living.
A universal basic income would allow people who lose their jobs to automation to have a fallback plan. While these employees are declared redundant, they can upskill without worry to remain relevant in their industry or change careers without having to depend on welfare. A Universal Basic Income would be useful in mitigating these challenges in some cities, but not all. For instance, if a worker is declared redundant in New York as opposed to any other cheaper states, a UBI amount of $1000 per month, such as that proposed by Andrew Yang, would be insufficient to cover housing and utility costs to sustain them reasonably. Therefore, UBI offers a solid intervention to the job loss to automation but is still an inadequate solution.
References
Brown, T. (2019). The Impact of Automation on Employment. IT Chronicles. https://itchronicles.com/automation/the-impact-of-automation-on-employment/
Yang, A. (2020). The Freedom Dividend. Yang2020. https://www.yang2020.com/policies/the-freedom-dividend/