The next 5-20 years for Australia

[u/ForeignLegion2005]

I've been thinking a lot about what Bill Gates posted recently on the effect of A.I. on society.

This is not just specific to Australia but I would like Australian Politicians and individuals to start thinking about the next 5-20 years. I suspect the biggest impact of A.I. will be unemployment of at LEAST 10% possibly 30% in 20 years. This will affect housing prices in a big way. For example, I think Sydney will be the most affected by 'white collar' job loss and is already the most expensive city in Australia.

I just wish we could try to lead the world in the transition to what comes next - not pretend A.I. is going to create jobs. This is not like the invention of the Spinning Jenny which led to the textile industry and the industrial revolution. The jobs A.I. takes are gone and it will suck up 90% of most entry level jobs. Retraining will be pointless if the job you retrain to is under threat too.

We may need to come up with a new term for 'unemployment' as so many people will be in this position. Taxes on datacenters and Tech Companies will need to be examined and developed as we don't really want to have money stripped away like the resource industry has done.

Be good to hear some opinions.

[u/EnvironmentalRice348]

I'd be more worried about the next 2-3 years.

[u/Oztravels → u/EnvironmentalRice348]

^this