HBO’s “The Future of Work” analyzes the immense impact that technological advancements have had on modern day industries and the overall landscape of employment. The video explores how automation, AI, and global shifts towards cheaper labor are revolutionizing job markets. This has left many of the average workers feeling uncertain about their futures.
The Trump Administration’s approach to adjusting the workforce in the U.S. was one focus in the video. Instead of relying on an increase in public investment, the administration would prefer to leverage private industry to address workforce development. This would mean influencing and persuading CEOs to pledge to worker training, a much more expensive alternative in the short run. A number of companies have agreed to this initiative, but concerns are raised about the potential situations that could be caused by reliance on private companies addressing public concerns.
The video goes on to further feature insights from individuals that have been impacted directly by these changes. Workers at the impacted Toyota factory expressed optimism about the company’s commitment to workforce training, whereas others remained skeptical, viewing it as an empty PR move. Vice’s correspondent continues on to explain the complexities these workers face, balancing working, family, and the reskilling efforts throughout a changing job market.
Andrew Yang, a businessman and former presidential candidate, provided a deeper set of insights. Yang advocated for a universal basic income as a mitigating solution to handle the impacts of automation and job displacement. Yang states that this universal income would provide those displaced with a bit of financial stability, allowing those affected to pursue meaningful work and further adapt to a newly evolving economy. Criticism against universal income states that this is a temporary solution to a long-term problem, and that it would be much more efficient to address the root of economic inequalities.
HBO continues on to explore universal basic income (UBI) as an approach to addressing the challenges posed by technological workforce advancements. The Stockton experiment out of California shows off this approach. Mayor Michael Tubbs utilized silicon valley income to support those being forced out of work by robotics and other technological advancements. The mayor further speaks about a ‘robot tax’ that would go towards supporting those affected.
Ultimately, “The Future of Work” highlights the desperate need for businesses, policymakers, and communities to confront the harsh realities of a labor market developing much too rapidly. While advancements in technology offer opportunities for increased innovation and productivity, those advancements also provide a significant challenge, mass job displacement and increasing economic inequality.
HBO’s breakdown in “The Future of Work” provided a thought-provoking dive into the extreme changes happening in the business world. The correspondents provided by Vice examined the perspectives of workers, experts, and policymakers that highlighted the need for action. By acting against unfair integration of rapidly-advancing technology into the economy, the United States has the potential to maintain our way of life and prevent inequality comparable to that of the early 1900s in the industrial revolution.