Future of Work — 2050

‘Work is Worship’ Won’t Be True

Everything that can be automated will be and “Work is Worship” won’t be true

This world will be seven times richer than it is today,

World population could be over 9 billion and average wealth will also have increased dramatically.

A company that has 50,000 employees today might have only 5,000 in 2050 while producing the same volume of food, goods, or services.

Global Mega-projects

To transform economy, McKinsey said the world needs to spend about $57 trillion on infrastructure by 2030

Out of these, one-third will be required in developing market, full of rising middle-class and urbanization.

Automation will take over all mundane work and there will many mega-projects solving global issues that you can participate in.

Rapid Urbanization

The world’s urban population is set to double between 2010 and 2050, from 2.6 billion to 5.2 billion. This rapid pace of urbanization, especially in China, Africa and India will impact everything related to work and culture.

Urban scale can help better matches between worker skills and job requirements.

The law of large number also balances employment stabilization as some organizations will be laying off and others will be hiring people

Wages in larger cities also exceeds those in smaller cities

Urbanization and economic development are closely related, and the concentration of resources, 1) labor and 2) capital — in cities is a part of this process

Universal Basic Income

The tools and technologies of abundance are expanding faster than ever.

Automation and robotics will replace all labor intensive jobs,

With machine learning encroaching the fundamental capability that sets us apart as a species , our ability to think and learn, we will have plenty of time and no work.

Freed from the necessity of working to make a living:

• 2020: Increasing technological unemployment balanced by economic upswing
• 2030: People who would like to work increasingly replaced by machines
• 2040: Basic income guarantee in most wealthy countries
• 2050: Basic income in most countries

Work will be for fulfillment, self-actualization and not just for income

Everything that can be automated will be

No Retirement

People are living longer

Cost of living is going up

You are not able to save enough money and younger generation don’t even know how to save money?

You will see yourself working as long as you are capable

Technology is working hard to keep you alive forever and living beyond 100 would be a routine