A Peek Into the Future: The World Economy in 2023
It’s almost the year 2023 and the world economy is a mess.
Everyone knows this, but no one can agree on what to do about it. Inflation is at an all-time high, unemployment is rampant and consumer confidence is dangerously low. What will the future hold for our economy and how can we prepare for it? Let’s take a look.
The Impact of Automation
Automation’s Impact on Employment
One of the primary concerns about automation is its effect on employment. It is estimated that by 2030, more than 30% of jobs will be automated, with some estimates going as high as 50%.
This means that many people will have to find new ways to make a living or else face unemployment. As a result, there could be an increase in competition among those who still have jobs and those looking to fill them. This could lead to wage stagnation or even wage cuts in certain industries.
However, while it is true that some jobs will be automated, it is also true that new job opportunities will emerge due to automation.
For example, robots may be able to carry out mundane tasks more efficiently than humans, but they cannot think creatively or come up with innovative…
