Technology

 

“History shows that technological advancements typically transform how we work, our ability to provide for our families and the overall improvement of society. One such transformation is the global labor force transitioning from a mass population of employees to a mass population of entrepreneurs.”

 

The role of AI software, apps, and function options within online companies has taken the world by storm, surprising many over the past year. Though this technology has been a part of our lives for years, its heightened prominence, functionalities, features, and use cases have left many excited and others fearful. As with previous industrial revolutions, there have always been winners and losers, as well as benefits and disadvantages. Overall, society has typically improved, life has become easier, and the transition out of poverty for millions has followed every technological revolution in our history. This new era is no different.

Despite fears and real concerns that AI technology will result in job losses for many in the labor force, we should err on the side of positivity. History shows that technological advancements typically transform how we work, our ability to provide for our families and the overall improvement of society. One such transformation is the global labor force transitioning from a mass population of employees to a mass population of entrepreneurs.

What is currently considered a large company based on employee numbers will likely transition to employing a small number of highly skilled managers at the executive level. These managers will oversee a mix of entrepreneurs/contractors and AI software performing tasks traditionally done by larger staff. This will enable companies to produce faster and more efficiently using data-driven AI for repetitive tasks, drastically increasing revenue and profit margins for those who invest wisely in technology and innovation.

But what about low-skilled workers who aren’t entrepreneur-minded? As with every economic change, the options are to adapt or face consequences. Many will suffer not from a lack of access but from a failure to adapt. Workers will need to develop skills that complement AI, such as critical thinking and soft skills as well as learn how to use the technology to enhance and market their skill. They will also have to abandon the long-held idea of job security in the traditional “corporate job,” as these positions will become scarce and highly competitive and embrace entrepreneurship. Additionally, workers will need to understand the basics of finance, managing, and marketing a business, even as a freelancer or solopreneur.

The good news is that education is now more affordable and accessible than ever before. Thanks to the abundance of free and affordable information, individuals who haven’t completed high school or college can learn skills freely and quickly. This transition may not be difficult for many, especially those under the age of 40. Gen Z has witnessed its peers becoming millionaires and even on track to become billionaires by creating content and becoming entrepreneurs on platforms like YouTube, gaming sites, and other social networks. Many Gen Zers, when asked about their future aspirations, express a desire to become content creators or gamers.

While some view this as a setup for failure, as most content creators do not generate significant wealth from their content, they are being encouraged to tap into their creative skills and monetize those skills independently, unlike previous generations who primarily sought traditional employment. The greater implication is that they are embracing their creative talents and natural skill sets intending to generate income. It is up to their parents, in partnership with their trusted educators, to guide them professionally, harnessing their skills, talents, and passions.

As mindful as we are of AI technology’s development and the potential opportunities it offers, we must also recognize the platforms and spaces created over the past decade that facilitate the transition from employment to self-employment. Platforms such as Fiverr and Upwork have become hubs connecting businesses with freelancers. Shopify, Etsy, and Amazon have emerged as e-commerce platforms enabling individuals to generate income, often as side hustles, with many transitioning to full self-employment. Sites like Teachable and Kajabi have opened up a relatively new industry in coaching and skill-set training outside traditional education settings. The prevalence of these platforms, coupled with the use of AI, will undoubtedly continue to create economic opportunities and time freedom for individuals and families globally. Could this be a middle ground for those who support socialism as opposed to capitalism, offering access to wealth and ownership to would-be laborers? Probably not, as there will always be those who, for various reasons – some societal, some personal – fall through the cracks and live in poverty, regardless of a nation’s prosperity.

Jesus says in John 12:8, “The poor you will always have with you.”

The success of global economies will hinge on whether leaders prioritize the flourishing of their people over greed and oppression. This includes refraining from increasing taxes on business owners and over-regulating new technology, as well as the public’s willingness to pivot and adapt in the new and inevitably changing industrial era.