Automation ia threatening millions of jobs sooner than most seem williing to admit.

[Newest Reality]

17. I agree that this is a significant problem...

It should be given attention before the trend is in full gear, because the ramifications are going to be substantial.

Another point that comes to mind is the pay-scale leverage that automation will give corporations. When the trade-off is they can either pay employees more or invest in automation that only requires a one-time amount plus operating costs and maintenance, what happens to the already flat-lined pay rates we see? Obviously, the cost of automation will go down over time and the capacity to replace human skills and labor will increase dramatically.

So, that does leave us with a big whole in the circle at some point. Since the consumer is an important part of the cycle, how can providers of services and producers of goods rely on only a smaller percentage of people to support their business?

I see a major impact to our ideas about capitalism and economies brewing here, and it is not a replay of the previous, tectonic shifts we saw with the industrial and information revolutions so far. Not only will the jobs that "replace" the old ones be more technological and specific, (they will not be accessible to all potential labor) there will be less of them. Oh, and mean less and less of them because it does not stop at mere production of goods, etc., it refines itself, eventually as machines repairing themselves or other machines, and onward.

I think everyone knows that this is not just a matter of putting parts together or robots that make fast food, right? The growth of weak AI and the potential of strong AI takes this right up the income chain into white collar professions and services, too. So, it is not just about who's career will be immune, but also for how long.

This is a MAJOR issue and it is going to accelerate dramatically within a short period of time.