“When you grow up, you might not have a job”
The Industrial Revolution made many jobs that were previously popular and important obsolete. And at that time, for every job that was replaced by machines, at least one new job emerged. But this is not a rule, and it’s likely to change in the near future. Humans have two abilities: physical and cognitive. The industrial revolution replaced part of the jobs that require physical work. With the new revolution that’s happening now, computers and algorithms are about to take over the jobs that require cognitive skills, such as doctors or lawyers.
At the beginning of the twentieth century, horse-drawn carriages, which used to be the best transportation, had been replaced by cars. There were no other jobs for so many horses. The same is very likely to happen to humans very soon, as AI and automation are slowly taking over jobs.
One of the solutions of not having jobs is a universal basic income (UBI). UBI is the minimum guaranteed money a citizen receives for their basic needs. This solves a lot of problems, but not all of them. Especially since this type of income would work only in the borders of one country. While citizens of the United States will enjoy the easy life, the economy of third world countries, such as India or Pakistan, may get devastated. This is because UBI hugely depends on human labor, and automation and AI will replace that.