FX.co ★ The economy of free earnings: development prospects

Artificial intelligence

Modern technologies have already achieved such a level of development as to satisfy all the subjective and objective human needs, so the next logical step will be automation with a replacement of freelancers for artificial intelligence. However, there is no need to talk about the widespread dominance of new technologies. The need for unskilled manual labor and routine work will disappear, while the need for intellectual activity will sharply increase. This will also offset unemployment, since not all spheres of human activity can be automated.

A different approach to education

As the artificial intelligence develops, accelerating the pace of education is not far off. Those days are coming to an end when, having received any skill, a person could earn with its help throughout his lifetime. Now the choice of employers is usually made in favor of cheaper, faster and more flexible training. They organize different courses for their employees, which in turn have to quickly learn new skills and receive the required knowledge.

The heyday of entrepreneurship

With the further labor market automation, the value of things that technology cannot provide will grow. These are truly human qualities which cannot be placed into robots. The technologies themselves will become a catalyst for ongoing process and a tool for creating an entrepreneurial vision that lies at the intersection of artificial intelligence and continuous learning. It will be easier to be an entrepreneur.

Changes in the sphere of personal finance

The system of loans, including mortgaging, should change in the near future, since the economy will be more oriented towards entrepreneurship and freelance, not towards full employment. This is also true for all kinds of pension and insurance benefits.

More serious changes involve automated investment, as well as the provision of services, previously accessible only to the richest population, by robo-advisors. The workload for major banks will also increase, as the investment volume increases every year.