Most humans will soon run out of reasons to work.

I'm a reporter writing an article for a major US newspaper on how AI will soon revolutionize the economy and everyone's work-to-income paradigm. We're going to run out of reasons to work.<br><br>**How will the average citizen afford to live, let alone enjoy the benefits of an unprecedented technological revolution?**<br><br>For the last several months, I've been interviewing experts in tech, economics and finance, and I'd like to share my research with you. I'd also love to hear your thoughts in the comments. What will happen to people unable to find any form of gainful employment? How will society incorporate the incredibly valuable contributions of unpaid caregivers and artists if they can't work traditional jobs? How might robots and AI change the definition of work and leisure?<br><br>The US is proud to say it has the biggest economy in the world, largely due to our ability to innovate. Yet, the only constant is change. With the arrival of robotics, artificial intelligence and automation technologies, it's become clear that we're at the forefront of a fourth industrial revolution. First, steam power replaced human labor in the textile industry. Next, the widespread use of electric power transformed the manufacturing sector. Now, we have computing, which has empowered a global economy. However, with the advent of big data and AI, jobs are becoming increasingly redundant.<br><br>We know that we'll see a massive shift in the nature of work. According to a McKinsey Global Institute report, nearly 40% of the working-age population in developed countries may need to change occupations by 2030 because their current jobs will be automated. Banks are using AI to screen loan applications, while self-driving trucks are being tested in the US. Some startups like the online writing assistant Jasper are already automating content creation. Technicians in healthcare are using AI to examine patients, write lab reports and even perform surgeries. AI-powered robots in the tech industry are recognizing patterns in consumer data to optimize product recommendations.<br><br>However, this revolution doesn't have to result in increased income inequality. With the proper safeguards in place and an understanding of what's at stake, we can ensure that this next phase of technological progress will be a success story, not a tale of despair. We need to focus on the economic benefits of AI for ordinary people, not just for the corporations that own the machines.<br><br>The first step is to recognize that we'll need a new economic paradigm to support it. Historically, workers have relied on income from their primary occupations, with the possibility of supplementing that income with wages, investments or job benefits like health insurance. But that's starting to change.<br><br>Many people now have multiple streams of income coming from different sources, some of which are neither traditional jobs nor passive investments. Although we still primarily identify ourselves with our traditional jobs, our identification with our occupations is becoming obsolete. So, how might we design a system that accounts for the tremendous value contributions that non traditional workers create?<br><br>Let's consider the unpaid caregivers and household workers who dedicate their lives to their families or communities, without any direct financial compensation. These individuals are the backbone of our society, and their quality of life should be reflected in our system. When we broaden our definition of work, we can recognize their efforts as part of our New Economy.<br><br>Likewise, when people get to do what they love - artists, musicians, writers, teachers, etc. - we should recognize that their contributions are every bit as valuable to society as the work of lawyers, bankers, doctors, engineers, and so on. Otherwise, we'd be severely underestimating the pool of human talent if we only focus on paid work.<br><br>We must also rethink traditional education. With new technologies constantly emerging, we can't solely rely on conventional institutions like universities. Our educational system needs to be open to embracing alternative models, such as online courses and hands-on training. We should foster a culture of lifelong learning and skill development, enabling people to adapt to changing job requirements with ease.<br><br>New forms of work will require new ways of thinking, and new forms of income. To create new jobs we need to create new industries, and the best way to do that is through technological startups. Governments need to help these startups by providing resources and capital. <br><br>Incubators and accelerators should help scale businesses by creating the right environment for growth. By integrating the latest technologies, we can build sustainable and agile businesses that are better equipped to withstand the test of time.<br><br>However, the issue of income inequality still looms. With automation replacing jobs, many are concerned about the future of work. Governments and corporations have a responsibility to explore novel solutions for ensuring a dignified quality of life for those displaced by technology. <br><br>For instance, they could consider implementing Universal Basic Income (UBI) or Robot Taxes. A study released by the McKinsey Global Institute in November 2023 predicted that by 2030, between 39% and 73% of the 1.6 billion workers in the world could lose their jobs to machines and computers. A UBI, which is already being tested in several cities, could be a viable solution.<br><br>Finally, we need to redefine what we mean by 'work' and 'income.' Work has traditionally been understood as an exchange of labor for a paycheck. But with emerging forms of work and automation, it's time to revisit that definition. How will we address unpaid labor and alternative forms of work?<br><br>The answer is a paradigm shift away from the traditional work-income model. We need to recognize the value of unpaid labor and alternate forms of work, allowing for a broader definition of what we consider "work" and "income." Our economic system should be designed to support the well-being of all citizens, not just those with paid jobs.<br><br>The future of work is a complex, multifaceted topic. We're only just beginning to realize the many ways that robots and AI will change our lives at work and at home. With automation increasingly capable of performing tasks that were previously the exclusive domain of humans, we need to think creatively about what kinds of work will still be available to people and how we will fairly distribute the fruits of robot labor.<br><br>This is an exciting time to be alive. We are witnessing the birth of a technological revolution that will forever change the value proposition of work. If we are clever, we can create a future in which work is something we do for personal fulfillment, not just because we need to pay the bills.