Automation and artificial intelligence may be two of the most intriguing and frightening words in the dictionary. Simply speaking these terms stirs up a lot of varying emotions. To a computer programmer, excitement might ensue, and for a truck driver, pure anger. How could two words create such strong feelings? The simple answer is that with automation and AI comes the controversial concept of change.
By Joshua D. Glawson | United States
“Technological Unemployment” was a term coined by economist John Maynard Keynes. It references jobs for people that machines replace, and is a type of structural unemployment. He was not the first to discuss the concept of lost labor due to machines, but he made it more popular by the 1930s. We see this continued sentiment with the progress of technology today. People in Neo-Luddite fashion scream, “Robots are taking our jobs,” or, “With more robots taking our jobs, what are we supposed to do?” At face value, it can be very scary the idea of being unemployed or a lost career that took years with plenty of personal investing.
Are people really going to lose their jobs? In short, yes. Yes, people will lose jobs and careers, with no return in certain fields. With software and technological advancements, there will be careers such as accountants, construction workers, stockers, and more that will have to find alternative fields of employment. This does not mean that other fields will not become available for these individuals.
In fact, with technological advancements, there have been a plethora of jobs and fields that have come into existence only because of these precise advancements. For example, the internet has led to the demise of many traditional advertising companies, but has opened serious career opportunities for social media and online advertisers. When the car was invented, it caused the fall of the horse and carriage industry, but allowed new careers in vehicle manufacturing, advertising, sales, mechanics, accessories, fuels, etc. Only a wistful dreamer would argue that in order to provide more jobs we should ride on horses as a means of transportation again.
Politicians are typically characterized as declaring, “We need more jobs!” Suffice to say, it is not their place to do so. It is also not a healthy economical role for governments to employ many people. Nevertheless, it appears as an easy way of winning votes when a politician tells citizens they will get them “free” things at the expense of others, or more jobs. The only real jobs created would be by government loosening its claws off the neck of a free market that it is crippling with regulations.
Perhaps, in order to simply “create more jobs,” the politician can propose policies that prevent technological advancements, and get rid of more than half of the machines currently used, such as bulldozers. That way, they can give everyone spoons, instead of machines and shovels, and create an entire network of frantic ditch diggers who only use spoons all for the sake of “creating jobs!”
When people protest that they have “a right to work,” this means they believe they have “the right to other people’s property.” A company is owned by an individual or group of individuals. They fronted the risks of creating the company, and they rightly redeem the rewards, losses, and other consequences of having their company. Just because they have a contractual agreement with certain people as the company being employers, this contract does not provide employees with ownership of the company or its property. This also entails the job itself, as it can be terminated by either party at any time, under most contracts. Some areas have created laws to attempt to say otherwise, yet this does not justify their thieving actions.
If the property belongs to the company, it is to the company’s discretion as to whether they would prefer people working for them or robots and software. As people demand more and more for their employment, such as wages, health, retirement, investments, vacation, etc., companies are irrefutably incentivized to go with lowest cost labor that provides the least amount of problems, i.e. robots, machines, and software.
This inevitable change is artificially influenced by increased costs and taxes, and as people require more this process is expedited. A prosperous outcome, for most, would be a laissez faire solution which allows these changes to occur naturally within the marketplace, expanding trade rather than filtering it. This free market would also allow employees to better compete against one another in order to get the job they so desired. It still would not change the fact that many people will lose jobs or careers to robots and software.
Some are calling on “taxing robots,” “Universal Basic Income,” or, “Basic Income,” but at a cost to whom? This cost is, again, to the creators and companies, who then pass the cost on to the market who pay more for the same products. It would also entail higher taxes for everyone, including the poor.
This, of course, should be a motivation to better market one’s self by learning more and expanding their own horizons as opposed to accepting mindless jobs that a robot could do in the near future. More complex jobs, like calculating as an accountant, will still be inevitably lost to software. Yet, there are other fields and companies that will choose to stay with people for a while, and the same goes with more menial jobs. This can be seen clearly with banks providing ATMs while maintaining in-house bankers. Many people prefer dealing with other people rather than with machines, especially as some software is still getting the bugs worked out.
In the long-term, the benefits of robots, machines, and software far outweigh the losses incurred. We have better healthcare, transportation, lower costs, better materials, a greater access to knowledge, and easier forms of communication. This list of benefits can go on continuously and yet we see more jobs available today than a thousand years ago. There are more jobs not because of governments, and not because of stifling regulations, but because of the technological advancements that humankind has created to best benefit us and the world, while also trading. People will continue losing jobs as the world progresses. People will, surely, find more jobs and opportunities as we progress!
One of the more interesting cryptocurrency projects set to launch this year is a relatively unknown seafloor mapping company with expertise in robotics and software engineering. Deep Water Systems (https://deepwater.systems) will use artificial intelligence to recognize patterns of disturbance on the ocean floor in an attempt to identify potential sunken treasures and mineral deposits along the Caribbean & Atlantic seaboard.
With an estimated two billion dollars worth of sunken treasures sitting on the ocean floor and more than 100,000 shipwrecks still undiscovered, DWS is the first blockchain based startup to tackle this eccentric industry. With expanded markets in oil and minerals, DWS could potentially service a broad range of underwater systems requiring intensive data of what lies beneath.
The project is led by founder and CEO Alejandro Gavrilyuk, an early cryptocurrency adopter with over 15 years of IT & business management experience. The research team has already been working for three years on their DeepSystem, a unique large-scale information and measurement system that will be at the center of collecting and interpreting data patterns from the seabed. Using state-of-the-art technology attached to torpedo looking “gliders,” Deep Water Systems currently recognize 70-80% of underwater objects. In the future they hope to get that number as close to 100% accurate as possible.
The gliders, almost 6 feet in length a piece, can work autonomously for almost half a year. DWS hopes to build a fleet of 2,000 gliders that will be unleashed along the historical trade routes throughout the Atlantic Ocean. These machines will attempt to identify mineral deposits and nodules that are rich in nickel, copper, cobalt, zinc, silver & gold. If successful, Deep Water Systems could be a disruptor in the space of deep sea information and data accumulation.
Not to be confused with an actual deep sea mining outfit, DWS is in the game of seek, find and sell. They intend to auction off their deep sea information to the highest bidder and allow those winning parties to mine the goods for themselves. The team will use blockchain technology to provide quick and accurate lots of data for auction with only the winning bidder able to gain access to the DeepSystem findings.
Deep Water Systems begin a pre-ICO offering on February 28th 2018 with bonuses of up to 30% for the earliest investors. DWT is built on the Ethereum blockchain and is an ERC-20 token capable of being stored to any ether wallet. The main ICO is set to begin on April 2 with a valuation of 1 eth = 2000 dwt. The supply of DWT is 700 million with a buy back program touted by the DWS team to stabilize the token’s value over the first year.
Deep Water Systems is a wholly unique project that exists because of the peculiar daring nature of blockchain technology. With the help of DWS, we could uncover major historical finds that are priceless to our understanding of human civilization. More than just a platform for identifying rare goods, Deep Water Systems are also a testament to the ingenuity and creativity of humans and I fully expect we will see hype surrounding the project from mainstream scientific media outlets.
For more information and a clearer look at the goals and aspirations of the team I suggest you read through their wonderful white paper linked below:
*This is not financial advice and should not be taken as such. ICO’s are volatile, please do your own research!*