Meet Silicon Valley CEO Tien Tzuo. He runs Zuora, a software company. But he has quite an observation for technology’s future. It’s not good. According to this Silicon Valley CEO: We’re losing jobs to robotics!
While technology is a gift to us all, it can be a curse. Hence, it’s the curse that worries Tzuo. He says tech and employment are approaching a crisis. The World Economic Forum estimates five million jobs will shut down by 2020. Tzuo also worries about this. Some call it ‘The Fourth Industrial Revolution‘. That’s because robots and artificial intelligence dominate it. Tsuo says this will destroy more human jobs at a faster pace. That’s the last thing we need right now.
It seems like Tzuo is right. According to Oxford University, 57% of all jobs are replaceable by robot or AI technology. Tzuo also worries that companies won’t be able to keep up with this disturbing trend. Furthermore, Tzuo believes if we don’t solve this problem, it will hold all of society back. But Tzuo isn’t the only one showing concern. There’s Lord Adair Turner. He’s a high ranking official at Merrill Lynch Europe. He believes this could threaten capitalism as we know it. But British Telecommunications (BT Group) CEO Gavin Patterson went even further. He said 80% of existing jobs today won’t exist in the future. Scary stuff.
This is why workers are scared. Remember the good ol’ days, when America lost jobs to other countries? But now, we’re losing jobs to things that aren’t even human. It’s already happening. In Japan, there’s a hotel completely run by robots. In San Francisco, there’s a hospital in which robots make your bed and cook your meal. There’s a Washington, DC restaurant, where the waiters are gone and computers do everything. In addition to all that, there’s the minimum wage controversy. Instead of waging workers salary, one fast food chain is laying off all human workers and replacing them with robots. This is real. It’s getting more real. Why isn’t the tech community talking about it more often?