The Death Of Average – Our Next World Crisis
We recently engaged in an interview with a policy leader with a top university in Canada. One critical trend we all need to be aware of which is fast bringing forth our next world crisis is “The Death of Average”.
We have written before where futurists predict that over 2 billion jobs will be gone by 2030 due to Artificial Intelligence and Robotics! This is generating great turmoil in the world. Unfortunately, most people are not ready for this next world crisis – they lack the life skills required to be self-made and self-reliant, especially in the fast changing digital economy.
People have become complacent thus resulting in average every day jobs now being displaced by technology from their once secure and demanded job. In fact studies now show the trend escalating quite quickly due to the fact that 47% of Americans can’t come up with $400 in an emergency unless they borrow the money or sell something.
“The death of average has begun to weave its way in society today”.
The first wave of job loss is taking place in blue color occupations that have big incomes with relative low ability and what is referred to as the “Death of Average” (for example jobs in mining, oil resource development, taxi drivers, couriers, postal workers, farming, etc.) just to name a few. These are jobs that demand below average ability, where no one is working globally and are likely a high school graduate or dropout.
“The fast pace of technology and the demand for cheaper goods will ensure the further growth of AI and robotics – even China is going through this same transition, albeit to a lesser extent.”
The second wave of job loss will happen in the white collar professions. For example, jobs in law, medicine, and accounting will be affected and displaced with technology were many of the functions research functions once needed to be done by a human can now be done by a robot. In many law schools we are starting to see a decline in enrollment. We are also seeing the emergence of robot doctors now doing diagnosis of people. Wearable technological tools such as Fitbits or your phone will soon be able to give a more accurate assessment of your personal wellbeing than your personal doctor.
“70% of our medical care in the future will be done on our smart phone or fit bit.”
How Do We Survive The Death Of Average & Thrive In The New Digital Economy?
We have had it relatively easy as the natural resource economy provided for high incomes bringing forth increased government spending and jobs. But things have changed and competition is global and it is fiercely pushing all of us to become better, stronger, faster and more self-reliant.
We all need to wake up and pull our head out of the sand and recognize the impact of these technological trends will have on our livelihood if we don’t change. Although some of these trends present dire consequences, they also elicit tremendous opportunity for each and every one of us.
“We need to harness entrepreneurial skills in the digital economy to determine our own destiny.”
The challenge we have is that many people are risk adverse. They are not entrepreneurs and choose to get to and stay in the middle class by professions. The other challenges is that our schools are training people for vocations that will not exist in the very near future and our business schools are training people to be managers not entrepreneurs.
The skills we need today must be highly transportable: “live where you want – work globally.” The products and services we provide the world must be able to be delivered over the Internet. As long as we have a laptop and Internet connection we are in business – this is the way of the future.
“People that make the transition from average employee to skilled entrepreneur in the digital economy will do well in the world by creating wealth and abundance not only for themselves, but also for their communities and those around them.”
In doing so, they will be able to avoid the “Death of Average” by transitioning from reliance on their current job or occupation that is constant threatened by technology –and actually thrive with a life of freedom, self-reliance, and total control by using technology to their advantage in the digital economy.
Doug Howorko & George Tsougrianis