Beyond the “Fourth Industrial Revolution,” Peng T Ong addresses the “Final Industrial Revolution,” a sea change with major leadership challenges and risk management issues. Driven by the impact of AI and machine learning, this revolution will redefine the world’s economies and labor forces, reducing the labor value towards zero creating “economic singularity”. Labor is the mechanism we use to redistribute wealth. If its value tends towards zero then how do we redistribute value and what do we do post-labor? And how do we get from here to there? The reason we need to worry about this is that it is (for now) a low probability event, with a very high impact outcome. Given the exponential pace of tech evolution, we need to plan around this issue as a risk management strategy.
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