Vivek Wadhwa writes in the Washington Post that in 10 to 15 years at most there will be no roles for humans in the work force.  He writes that:

In an op-ed in The Wall Street Journal, former Treasury Secretary Lawrence Summers revived a debate I’d had with futurist Ray Kurzweil in 2012 about the jobless future.

He echoed the words of Peter Diamandis, who says that we are moving from a history of scarcity to an era of abundance. Then he noted that the technologies that make such abundance possible are allowing production of far more output using far fewer people.

On all this, Summers is right. Within two decades, we will have almost unlimited energy, food, and clean water; advances in medicine will allow us to live longer and healthier lives; robots will drive our cars, manufacture our goods, and do our chores.

There won’t be much work for human beings. Self-driving cars will be commercially available by the end of this decade and will eventually displace human drivers—just as automobiles displaced the horse and buggy—and will eliminate the jobs of taxi, bus, and truck drivers. Drones will take the jobs of postmen and delivery people.

To read more, see We’re heading into a jobless future, no matter what the government does – The Washington Post.

See also http://www.nytimes.com/2014/07/23/upshot/how-technology-aided-by-recession-is-transforming-the-work-world.html?partner=rss&emc=rss

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.