Source:
https://scmp.com/tech/leaders-founders/article/2066799/widespread-automation-tipped-spur-80pc-unemployment-rate-hk
Tech/ Tech leaders and founders

Widespread automation tipped to spur 80pc unemployment rate in HK, other major cities by 2030

Expect disruption by financial technology initiatives in traditional international banking centres like Hong Kong, London and New York, says Simon Squibb

Simon Squibb, founder and chairman of privately held Nest, the pre-eminent Hong Kong technology start-up incubator.

Major cities like Hong Kong, London and New York are predicted to face unemployment rates of more than 80 per cent by 2030, when widespread adoption of artificial intelligence (AI) and robotics accelerates automation in virtually all industries, according to outspoken Hong Kong-based venture capitalist and angel investor Simon Squibb.

“As hard as it might be for many to believe, there will be no bankers, no accountants and no manned deliveries by 2030,” Squibb told the South China Morning Post. “Robots will be our drivers and a new world order will be in place.”