Future work scenarios may be influenced by radical technologies, resulting in four potential outcomes, according to the RSA. The ‘Big Tech Economy’ envisions a world dominated by large tech firms, where automation is widespread and labour rights are minimised. The ‘Precision Economy’ foresees a highly personalised, efficient work environment, with jobs tailored to individual skills and abilities. However, this could lead to increased surveillance and reduced privacy.
The ‘Exodus Economy’ predicts a shift towards local, community-focused work, facilitated by technology. This could result in a more equitable distribution of wealth, but may also cause economic stagnation. The ‘Empathy Economy’ anticipates a rise in demand for uniquely human skills, such as creativity and empathy, as automation takes over routine tasks. While this could lead to more fulfilling work, it could also exacerbate income inequality.
To prepare for these futures, the RSA recommends that policymakers focus on improving the quality of work, promoting lifelong learning, and ensuring that technological change benefits everyone. The report also highlights the need for a broader public debate about the future of work.
Go to source article: https://www.thersa.org/discover/publications-and-articles/reports/the-four-futures-of-work-coping-with-uncertainty-in-an-age-of-radical-technologies