Rich and powerful to replace peasants with robots
 

After gutting the middle-classes, the rich and powerful want to replace the lower paid with robots.

At the Milken Institute’s Global Conference in California, at least four panels so far have focused on technology taking over jobs.

Michael Chui, a partner at the McKinsey Global Institute said that most of the benefits we see from automation is about higher quality and fewer errors, but in many cases it does reduce labour.

The four-day annual conference, which began on Sunday, invites only 3,500 of the richest and smartest in the world. More than 700 speakers have pointed out that technology has not only done away with many low-wage, low-skill jobs already.

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