Microsoft founder and GMO enthusiast Bill Gates made some pretty grim predictions during an appearance at an event hosted by right-wing think tank the American Enterprise Institute. Grim for them? No, no, silly little person: Grim for you! According to Gates, people are underestimating the number of jobs that will be lost to robots, and unless we’re willing to cut payroll and income taxes out altogether, future businesses will likely not be willing to hire human beings that need jobs. Gates is also against raising the minimum wage, as he sees that as potential discouragement as well. So get ready to work for peanuts or not work at all.
Gates said that within 20 years, a lot of jobs will go away, replaced by software automation (“bots” in tech slang, though Gates used the term “software substitution”).
This is what he said:
“Software substitution, whether it’s for drivers or waiters or nurses … it’s progressing. … Technology over time will reduce demand for jobs, particularly at the lower end of skill set. … 20 years from now, labor demand for lots of skill sets will be substantially lower. I don’t think people have that in their mental model.”
He’s not the only one predicting this gloomy scenario for workers. In January, the Economist ran a big profile naming over a dozen jobs sure to be taken over by robots in the next 20 years, including telemarketers, accountants and retail workers.