Business Perspectives

Monthly Archive: February 2021

Workplace Philosophies/Values

Have we anything to fear from the ‘fourth industrial  revolution’? 

Is a life full of copious amounts of leisure time with mundane tasks, a thing of the past, or a world with mass unemployment that is ruled by machines?

human-like robot in a thinking pose

Nobody is quite sure what the period we are entering, often referred to as the ‘fourth industrial revolution” will mean for mankind but there will be significant changes to the lives of many as we progress through the 21st century.

Is it a positive, utopian prospect as we become a technology-driven leisure society’? Or is there a far more troubling dystopian view that robots and corporations will dominate in a world of large-scale unemployment as both blue and some white-collar jobs disappear?

“The future is not inevitable and it’s something humans will create. It’s only the beginning and there are lots of scopes to shape what will happen. The future will be what we make it to be and it will be shaped by debate and will require global buy-in through investment decisions and political support.

“With artificial intelligence (AI) able to make strategic decisions, it could operate interconnected factories, rather than having a need for the current network of managers. ‘Smart’ organizations will be more efficient, providing better services to their customers. According to current patterns, inequality between countries as a whole is likely to decrease but also increase among individuals in a world of ‘smart’ technologies, organizations, and cities. There is the assumption that low-skill jobs will be replaced; with our existing economic model disrupted, a new lifelong education system will be required to upskill workers for the new jobs created.

“This vision of the future is sure to raise moral and ethical issues such as drones fighting our wars, using genetics to cure cancer, or even AI controlling our sacrosanct justice system as lawyers and even judges could become obsolete. All the three previous industrial revolutions led to conflicts – will this one be any different?”

Workplace Philosophies/Values

Money for nothing? The pros and cons of a ‘basic income’ 

Basic income written on wood blocks with bag with money on yellow background. Back to basics fundamental principles concept

The recent news that the Finnish Government will not be expanding its trial which provided 2,000 unemployed people with a state-supplied basic income has sparked fresh debate on the topic.

A basic income is defined as a “periodic cash payment unconditionally delivered to all on an individual basis, without means test or work requirement”. It is supplementary to any other support someone might receive such as unemployment, child, or housing benefit.

Dr. Charles Barthold, Lecturer in People Management at OUBS, discussed the potential advantages and drawbacks in ‘Modern Empowerment Today: The Possibilities of a Citizen’s Basic Income’, one of three presentations at a masterclass organized by OUBS at the Crowne Plaza in The City on Wednesday 2 May 2018.

Charles discusses the issue:

“The important criteria of a basic income are that it is an ‘unconditional’ income to every individual in a particular country via a repetitive cash payment and is universal (so not means-tested). The idea is to democratize society with an intention to be inclusive as everyone becomes ‘part of society’ regardless of gender, class, or poverty. It could empower us all and provide more choices for people such as offering the opportunity for couples to both works part-time, for example. It would be simple to administer and much easier than the complex current means-tested system which is subject to both fraud and errors, although some people would still be receiving other benefits on top of this basic income.

“There is an expectation that innovation will destroy and create jobs and that the current level of employment will continue to increase. Basic income is an instrument to smooth the transition from one job to another but with individual responsibility to look for the next job and to be employable. It’s meant to provide a minimum income as you transition to another job – perhaps by learning new skills through going back to education – as a response to automation which will see some repetitive, low-skilled jobs replaced and a move towards other low-skilled jobs that are not repeatable such as cleaners and care workers.

“Usually these experiments are very limited in both the number of people involved and the time it happens for. Despite the Finnish experiment not being continued beyond the end of the year, people have continued to work and stress levels decreased during these trials. I don’t see the basic income as a silver bullet as it’s difficult to provide money to people without any responsibility – according to the current world view – but it could offer more freedom and choice through education and entrepreneurship.”