Once many jobs become automated, it’s inevitable that unemployment rates will rise. As mentioned above, much like assembly line workers being put out of jobs during the Industrial Revolution, the same will occur during the Automation Age. For example, cars that drive themselves have already been developed and are a safer, more economical alternative to taxi drivers, so these automated cars will eventually replace taxi services.
We need to develop a way to smoothly transition into this new era of technology, and the best tactic, according to Musk, is to implement a universal basic income (UBI). In other words, the government would pay all citizens the same amount of money so they have adequate financial means to live.