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It is not the first time that the impact of technology on the labor sector has been highlighted but the numbers predicted by Jeffrey Cohen have spelled doom and gloom across the globe. According to the International Labor Organization (ILO), there are around 4.6 billion jobs globally and when Cohen, the magnetic Cohen Group President, posited that 2 billion of these jobs might be lost by 2030, the world sat up to listen.
Speaking at a technology summit in Long Island, the mercurial investor was categorical that the role of technology cannot be ignored any more.
“For the last twenty years, technology has hived off a large part of human resource needs. However, we are yet to experience the full impact of this phenomenon because by 2030, global jobs will be halved especially in the largest industries,” the futuristic investor told a shocked conference hall.
“Yes, call me an alarmist but you just have to consider one of the globally dominant industries; transport. Already, Toyota, Mercedes, Tesla and other large companies have reported that their driverless cars will hit the roads in the next 4 to 5 years. Think of how many jobs will be deemed obsolete,” the speaker added.
As the impact of such technology dawned on the participants, there was better appreciation of Cohen’s predictions. Bus, taxi and truck drivers will no longer be needed. Add these numbers to traffic cops, gas station attendants, pizza delivery workers, FedEx drivers and many others.
Other industries, which strengthen this prediction, include snail mail services, which are struggling under assault from email and other communication channels. Education will also feel a big impact, as classroom teachers will become a burden. Bots will also be used for most economic activities such as fishing, mining and home inspections among many others.
Well, other researchers including those at the University of Oxford who argued that Artificial Intelligence (AI) could replace over half of global jobs have also supported Cohen’s predictions. Areas such as health will benefit immensely from technology and uptake is expected to be very high.
Jeffrey Cohen Optical is not a new name to technological innovations having heavily invested in startups creating practical solutions to societal problems. He has made a name as an innovation financier through his Orchard Street Funding, Golden Pear Merchant Capital and Golden Pear Funding investment groups.
About Jeffrey Cohen
Jeffrey Cohen, Founder and CEO, has 6 years of experience in the same position at Golden Pear Funding, one of the top three national legal advance companies in the United States today. Mr. Cohen is also President of the Cohen Group, a private equity company managing a variety of investments and President of Operations for General Vision Services.
Jeffrey Cohen is the successor of the New York City’s famous Cohen’s Fashion Optical. Today, there are over 100 Cohen’s Fashion Optical stores in major mall and city locations throughout seven east coast states and Puerto Rico. Learn more at https://www.goldenpearfunding.com
