Elon Musk envisions a world without work due to artificial intelligence, while NR Narayana Murthy believes young people should work 70 hours a week. The debate explores the future of work, the impact of AI on job loss, and the blurring boundary between work and leisure. It also discusses the challenges of integrating new technologies, aligning payment with contribution, and the shift towards hybrid work models.
AI advancements may disrupt jobs at different times, requiring support for affected individuals.
The disappearance of work could have negative consequences, such as the loss of personal fulfillment and social interactions.
Society is ill-prepared for the changes in work, necessitating a new approach to finding purpose and navigating challenges.
Deep dives
The Impact of AI on the Future of Work
AI is predicted to eventually take over many jobs, but the timeline is uncertain. Some jobs are already being disrupted by AI, but the creation of new jobs may not align at the same time. The sequencing of job displacement could lead to challenges for individuals who are impacted and may require support. The concern is not an AI dystopia where all jobs disappear, but rather the potential disruption and coordination needed to adapt to AI advancements.
The Importance of Work in Society
Work plays a positive role in most people's lives, providing purpose, financial viability, and a sense of meaning. The disappearance of work for large portions of the population could lead to a grim future. Even if individuals are paid to stay at home, the personal fulfillment derived from work and the social interactions gained from the workplace would be difficult to replicate. The value of work extends beyond financial compensation and includes the social and psychological benefits of interaction and purpose.
Challenges in Adapting to the Future of Work
Society is unprepared for the radical changes in work brought about by technology. Mechanisms to support individuals who are not working and to help people find meaning and derive satisfaction in their lives beyond work are lacking. The traditional trifecta of work, financial viability, and meaning is breaking down, leading to potential difficulties in finding purpose. A new approach to work and society is needed to navigate the challenges ahead.
Exploring the Transition to a Shorter Work Week
The concept of a shorter work week has gained traction, with companies experimenting with four-day work weeks and observing positive results. The key to success lies in rethinking work processes, eliminating inefficiencies, and fostering a results-oriented mindset. By removing unnecessary tasks and improving processes, companies have achieved increased productivity and improved work-life balance. However, the feasibility of implementing a shorter work week may depend on industry-specific factors and the nature of customer demands.
The Future of Work in a Hybrid Environment
The COVID-19 pandemic has accelerated the shift towards remote and hybrid work models. Working from home has become more common, offering benefits such as reduced commuting time and increased flexibility. However, the hybrid model poses challenges in maintaining corporate culture, collaboration, and customer expectations. Balancing remote work with in-person interactions and considering individual preferences and job requirements will be crucial in shaping the future of work.
The prospect of a world without work - that was the vision offered up by Elon Musk this month. The US tech billionaire has predicted that artificial intelligence will eventually mean that no one will have to work. Mr Musk suggested that society could reach a point where “no job is needed” and “you can do a job if you want a job, but the AI will do everything”.
Contrasting with the idea of the zero-hour working week, Indian software billionaire and Infosys founder NR Narayana Murthy - says that young people should be ready to work 70 hours a week to help the country's development.
Since the pandemic, many companies allow their employees to work from home. Others have moved to a four-day working week, citing benefits such as increased productivity and significant financial savings for employees on transport and childcare. But some employers insist the shorter working week doesn’t work - saying employees ended up having more stressful workdays, and feeling exhausted once they reached their scheduled days off.
How many hours should a person work in a week? Is a world without work desirable? If AI will be capable of doing many jobs, should employees be fearing the future - or take advantage of these changes, and strive for new ways of working? What’s the future of work?
Shaun Ley is joined by:
Andrew Palmer, who writes The Economist's Bartleby column, which explores management and the world of work
Brendan Burchell, professor in social sciences at the University of Cambridge. He's done a lot of work on the way labour markets affect individuals
Anat Lechner, clinical professor of management and organisations at New York University
Also featuring:
Jayati Ghosh, professor of economics at the University of Massachusetts, Amherst
Elliot Keck, Head of Campaigns at the Taxpayers' Alliance
Gary Conroy, CEO of Five Squirrels, a company in the skincare industry which operates on a four-day working week
Produced by Max Horberry and Ellen Otzen
(Photo: Getty)
Remember Everything You Learn from Podcasts
Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
