Hi,
after a discussion on a post by @taskmaster54450le that can be read here, and the discussion following in the comment section, I had also had a discussion offline with my wife and some friends on the toping that we will have some challenges in the following years from an economic stability perspective.
During the last year, the world has changed as it never did before during a time of peace. Usually we have big changes in times of war and directly after when the world is rebuilding.
Last year, the technology advance like in 5 years. We have definitely lost a social year, but we gained 5 years of technology and a bit of decentralization. How did we get a bit of decentralization? Easy, a lot of people that have been prior forced to go to an office, can now work from home, gaining some time by avoiding the commute, the noise and distraction in the office and a little of free time on the side during breaks to solve personal topics.
As the politicians will try to implement some measures, that will probably backfire at least, we will see different challenges when the automatization gets in and a lot of people will lose their jobs.
Losing jobs to technology is a natural and normal thing, even for the person affected by it is very painful and challenging. If we look back 100 years ago, we were still using horseman for our post. Imagine the last 100 years in technology revolutions.
It will bring a lot of economical distress for a period of time, especially now with the world how is it, but there is hope and actions that we can take.
One of the sectors that will be hard will be logistics. With the high need for storage space, warehouses will turn into full automation. There will be almost no space for a human being to enter and the only access will be needed for the maintenance technician. Transport will be fully automated either via trains or fully automated trucks.
I see here new opportunities in job creation that can go in different directions, where automation and technology will be still too expensive:
- social interaction jobs
- research
- design & development
- customization and small series
We still need the human touch, and we will more confident at speaking to humans with our problems than rather to a machine. Going to therapy or to a doctor is felt better if the doctor is compassionate, where a machine is losing it.
Here are many opportunities for caretakers and other engaged persons.
Software development, biotech, chemistry and physics will be excellent funded as companies need the next breakthroughs in different materials, research fields and AI. Here we have also today lack of persons working in these fields.
We love unique and custom things. We see it in the NFT craze that took over the world, the rarer an item, the more expensive it is going to be. The Rolls-Royce for example has a lot of man-hours on its build. It is exclusive and manufacturing prices would go to the roof if it would be automated. On most car series there are some custom options that costa fortune because are done manual as automation is not feasible. The trend applies to clothes, furniture and even NFTs. The more unique an item is, the more expensive it gets for a machine to build it.
People that are affected by job loses shall turn to industries that need a workforce. There are opportunities, but we might need to see and do things different.
I never know when the technology revolution it is going to affect me and my family.
How do I do that? Besides working in a technology field, I invest in the new technologies like cryptos.
My cryptofolio is growing steady and my target is that in 2025 the cryptofolio shall provide for my family with the passive returns. Even if it sounds easy, it is not. The daily choices are not easy with the amount of opportunities that are popping up, but this shall be the biggest problem. :)
I would suggest anyone to look into crypto and what it can offer. It can provide safety in times of economic distress and life challenges, but it takes time to build up, like most things that are good in life.
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It might sound word I think the only way to survive the technological advancement that is to come in the next decade is to have some leverage financially.
As a species, I think we are approaching a point where we are not needed anymore. Biologically this should lead to extinction but the human species has found a way to prolong its existence and at a costly price.
Like you mentioned one of the best things to invest in right now is tech--that's the leverage for the future.
Economically, I think there will be a great reset. How that will occur I don't know but it is the only way to stop things from imploding.
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We are still needed. There are so many problems to tackle as a species here on Earth and after that we need to conquer the space, first the solar system, the galaxy and universe.
Humanity has an interesting future but needs to adapt for it.
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I agree with much of what you said here, especially the part about the ever-present need for some human interaction. We are going to very soon be at a point where that interaction is not necessary to getting what we physically need out of the situation, but the human brain is simply not hard-wired to connect solely via technology. It will be interesting to see where the line is drawn in the move to the next phase of society.
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