Make the Basic Income enough for people to buy said products and services? Granted said Income wouldn't allow people to live the "Lifestyles Of the Rich And Famous", but it should be enough.
Yeah, but who is going to set the basic income level? If it's the government and you examine welfare and social security payouts (which are always being talked about as going broke) then it's not going to go well. Plus the rich robot owners are going to lobby to make it lower since they'll be the only ones generating and paying taxes.
Also with less income for people to live on there's going to be less customers for automated businesses. So I imagine GDP is going to take a dive and in turn the government will (gasp) have less income to function on.
Really I see it as a ripple effect. China has billions of people to feed and as automation grows and grows every country not living off the land will suffer.
How it works in my industry which is the secondary market side of mortgage banking is India does lots of data entry as the loans come in, they take the documents and key in the info and sort the documents out. They do it at a third the price of Americans so we use them (very common throughout the industry). That’s too much though, they’re looking at using AI to red the docs and autokey everything then run all sorts of c9mpliance tests on it. I see the industry moving towards that too. There will still be humans, but a lot fewer of them.
On the origination side I see the industry moving towards that too. Why have a loan officer when you can make software that takes you application, your financial info, processes it, sends to the underwriter (who also will be using automated software), gives a result, do an e-closing, and bam you get your keys.
Personally I think that's really irresponsible to farm data like that to foreign countries, but I know no one thinks (or cares) long term or the actual costs of doing business when you have to do something with those inevitable data breaches.
Well someone will have to check the data being scanned, right?
I wonder if what's happening to you is regional? Locally here some banks have doubled their work force and increased branches. Though their tellers are like revolving doors, here today, gone tomorrow.