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In case the meaning of “creating value” was not clear, he gives some examples: “Drones represent a new type of cost-cutting employee working among us and performing jobs that once involved real people” (8) and “the use of ever-smarter algorithms is rapidly extending employee productivity—for example, in the use of chat bots to augment (and, increasingly, replace) ‘live chat’ support for customer interactions”. (9)

Schwab goes into some detail about the cost-cutting, profit-boosting marvels of his brave new world in The Fourth Industrial Revolution.

He explains: “Sooner than most anticipate, the work of professions as different as lawyers, financial analysts, doctors, journalists, accountants, insurance underwriters or librarians may be partly or completely automated…


What is going to happen to the people who used to fill those job positions?