He discussed a number of things, but focused on how much progress we have made in the battle against poverty in recent years, pointing out that the number of people living in extreme poverty has dropped 80% over the past four decades.
Gates at the AEI Freedom Project Conference
Gates also stressed, however, that we need to be preparing for a not-so-distant future when robots and computers replace the majority of the jobs we have today:
“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.”
Manufacturing Output vs. Manufacturing Employment (click to enlarge)
I discuss this trend in more depth in this opinion piece from last November.
While the unskilled, blue-collar jobs will be likely to go, it’s only a matter of time until “professional” jobs like accountants, pilots, and real estate agents are also replaced.
For more, check out these stories from BGR and The Business Insider. Gates’s full speech to the AEI can be viewed below.
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