Robots Could Make Even High-Tech Workers Worse Off
Have you ever worried that robots would one day be the ruin of humanity? According to a newly published paper, you might not be too far off base. Four researchers from Boston University and Columbia University simulated an economy featuring two types of workers – high-tech employees who produce new software code, and low-tech workers who produce human services (people such as artists, priests, psychologists and the like). At first, high demand for code-writing high-tech employees increases their wages. However, over time, the amount of legacy code grows. As this happens, and as some smart machines become better able to learn tasks, writing new code becomes redundant, the authors state.