Davos 2014: Eric Schmidt, executive chairman of Google, warned on Thursday at the annual meeting of the World Economic Forum in Switzerland, that a large range of jobs that once seemed beyond the reach of automation are in danger of being wiped out by technological advances.
He said that with the constant development of new technology, more and more middle class workers would lose their jobs.
“The race is between computers and people and the people need to win,” he said. “I am clearly on that side. In this fight, it is very important that we find the things that humans are really good at.”
There is an enormous amount of innovation happening, and it would be an economic mistake to delay adopting efficient new technologies and he pointed out that, on a net basis, more jobs were created by small companies and therefore entrepreneurs needed more support otherwise the situation would get worse.
“It’s clear to me that we can get full employment, but wages are still depressed,” Schmidt told the forum.
“As more routine tasks are automated, this will lead to much more part-time work in caring and creative industries. The classic 9-5 job will be redefined,” he said.
Chosen excerpts by Job Market Monitor. Read the whole story at
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