Immigration - Newcomers, & Our Saving Grace

The lightning speed of information technology has significantly reshaped the economic landscape, particularly with the advances in AI. 

AI - Artificial Intelligence & Obsolete Professions

AI will profoundly transform financial data analysis, national budgeting, and tax reform planning. My question is, how many millions of job losses will automation cause due to AI? I agree that AI can enhance efficiency, but at the same time, AI may make entire professions obsolete, leading to long-term job displacement and increasing inequalities, and governments scrambling to re-skill their outdated workforce. Many governments and technology theorists question whether AI will eventually surpass human capabilities in professions requiring cognitive skills such as analysis, communication, and learning.

Immigration Is Needed

Another possible issue that governments face is that immigrant assimilation is a multifaceted economic concern with perspectives from both anti-immigration and pro-immigration. Anti-immigrationists often argue that immigrants strain resources and job markets, contributing to economic challenges. On the other hand, pro-immigrationists emphasize the positive economic impacts, citing the potential for innovation and economic growth that diverse populations bring. Governments must develop inclusive policies that protect newcomers from economic job factors and societal integration to continue improving our society.

Newcomers May Be Our Saving Grace

As we age, the baby boomer retiree population is putting a massive economic strain on government budgets. Global debt is growing exponentially, exceeding $250 trillion and creating economic instability. Every developed economy has a massive public and private debt, with the risk of default, which creates a volatile economic environment. Newcomers will be taking on this economic load. Interestingly, central banks are quickly testing out AI applications and cryptocurrencies due to their outdated national technological systems and 20th-century policies that create inequality. 

Disproportionate Military Responses

In the realm of global geopolitics, and specifically, terrorists, as usual, pose a threat of destabilizing vast areas of land and nation-states by provoking a disproportionate retaliation from significant powers. To counter such global insecurity, governments will depend on massive AI counterterrorism technology, as we notice the Israeli military is using military AI in Gaza at a highly disproportionate military response. Governments need to understand the motivations and strategies terrorists use to be effective and use proportionate responses for continued global peace and economic stability.

Knowledge Illusion

We (including governments!) all have challenges managing information from social media and other biased narratives. Some people have this knowledge illusion; they believe they understand more than they actually do, creating misinformed decisions. Educational systems must evolve to counter this influx of misinformation, focusing on critical thinking instead of teaching to the diploma exams - accumulation of information.