The popular uses of automation and artificial intelligence might be an afraid alert for a variety of industries and significant job displacement.Some people strongly agree that governments need to raise wages to reduce the economic consequences while others believe that a better alternative is paying attention on retraining and fostering innovation.
There are both benefits and drawbacks for both options.For rasing UBI is required for some situations but it cannot be implemented for long terms.UBI gives everyone stable normal life from all the aspects such as food,living and health.It can protect the ones who is harmed from automation.And it can make you less stressed and give encouragement to start a new business since there is basic income for everyone.On the other hand,UBI doesn’t give opportunities to get good jobs.And to raise UBI,government requires to raise the taxes and can get pressure on the economy’s budget.And last but not least,UBI can’t substitute the important valuable feelings of job’s society.
While retraining and innovation can create long-term employment and economic growth, they are time-consuming and may not benefit everyone equally.Retraining and innovation can give people many jobs opportunities by generating a new skill and techniques and it can encourage development in business.Moreover,not only handling the dignity of work but also,lower pressure on government’s budget since it is like a investment so that,there is a long-term return.Nevertheless,it takes a long period.As a result,it is not helpful for short -term job loss.In addition,it is impossible to do training for everyone depending on their ages and education background.Futhermore,there is an issue with unbalanced training sources since people in urban areas can have the opportunity for training but the countryside don’t.As well as there is any guarantee for a job after training.In my opinion,training and innovation would be better rather than UBI resulting in encouraging people towards and can give the dignity of work.