Much is written about today on the topic of artificial intelligence and the prospect that jobs in the future will be far harder to find. The McKinsey Global Institute predicts that by 2030, AI and robots could displace up to 30% of the global workforce. That could mean up to another billion people with idle time on their hands.
So how will this impact the future of work? Our polling shows that less than 3 in 10 Singaporeans (27%) say their work gives them a lot of meaning and fulfilment. In fact, more Singaporeans (34%) say they only work for the money. Furthermore, men are more likely than women to feel work provides fulfilment and meaning (32% to 21%). What happens when the jobs disappear?
Universal Basic Income
One idea being discussed globally is the concept of a Universal Basic Income. In the United States, nearly half (48%) of Americans say they support a universal basic income programme to ‘help Americans who lose their jobs because of advances in artificial intelligence’. We asked the same questions to Singaporeans and a staggering 81% said they would support a Universal Basic Income under the same circumstances.