The video discusses the impact of automation and artificial intelligence on the job market. It begins by explaining how humans have evolved to create tools to reduce physical labor, leading to a rise in specialization and a boost in economies. This trend is not limited to farming but extends to all forms of labor. The video then introduces the concept of "mechanical minds," which are more reliable and tireless than human minds, and are becoming increasingly prevalent in various industries.
The video highlights the example of Baxter, a general-purpose robot that can learn tasks by observing humans. It argues that Baxter represents a new kind of automation that is more cost-effective and versatile than traditional, human-operated robots. The video also discusses the impact of self-driving cars, arguing that they are not just a future technology but are already present and functioning.
The video warns that as technology continues to advance, it will continue to replace jobs, not just low-skill ones but also white-collar and professional jobs. It mentions the example of IBM's Watson, a bot that can diagnose diseases and is already being used in medical practice. The video also discusses the potential for bots to write music and other creative works, suggesting that even creative jobs may be automated in the future.
The video concludes by emphasizing that the rise of automation is not a prediction for the future but a reality that is already happening. It warns that large sections of the population may become unemployable due to automation, and calls for society to start planning for this future.
1. Humans have historically used tools to make work easier, from sticks to tractors, and this has led to modern agriculture where almost no one needs to make food.
2. Mechanical muscles, which are stronger, more reliable, and more tireless than human muscles, have been developed to replace human labor. This has led to specialization and improved economies and living standards.
3. Some people have specialized to be programmers and engineers whose job is to build mechanical minds, making human brain labor less in demand.
4. The concept of automation has evolved from giant, custom-built, expensive robots to more general-purpose robots like Baxter, which can learn what you want them to do by watching you do it.
5. Baxter, unlike older robots, is not pre-programmed for one specific job and can do whatever work is within the reach of his arms.
6. Baxter is smart enough to take over many low-skill jobs, and we've already seen how dumber robots than Baxter can replace jobs.
7. Self-driving cars are not the future: they're here and they work. They have traveled hundreds of thousands of miles up and down the California coast and through cities without human intervention.
8. The transportation industry in the United States employs about three million people. These jobs are over, and the usual argument is that unions will prevent it.
9. Software bots are both intangible and way faster and cheaper than physical robots. Given that white collar workers are, from a company's perspective, both more expensive and more numerous -- the incentive to automate their work is greater than low skilled work.
10. The number of writers and poets and directors and actors and artists who actually make a living doing their work is a tiny, tiny portion of the labor force.
11. The unemployment rate during the great depression was 25%. This list above is 45% of the workforce. Just what we've talked about today, the stuff that already works, can push us over that number pretty soon.
12. This video isn't about how automation is bad -- rather that automation is inevitable. It's a tool to produce abundance for little effort. We need to start thinking now about what to do when large sections of the population are unemployable -- through no fault of their own.