What is the opportunity for virtual employment?

The rise of automation! The robots are coming for our jobs! AI is taking over the world!

As more and more resources have been poured into automation and AI, this rhetoric has been repeated with increasing urgency in recent years.

There is no doubt that people whose jobs have been replaced with automation will need to evolve. Just as the industrial age where work provided physical goods transitioned into the information age where work provides services, we can argue that the next period we are entering into is the Virtual Age, where work will provide experiences.

Over the past 30 years, we have used AI to control the NPCs (non-player character) in computer games. For example, when you are playing a first-person shooter you are playing against the computer battling waves of enemies. The fascinating thing is that on the flip side people are getting ready to take the AI’s jobs in computer games.

How automation will take over jobs

According to a 2017 McKinsey study:

  • As many as 45% of current paid tasks can be automated by adapting current demonstrated technologies
  • Activities most susceptible to automation make up 51% of work tasks (The activities most susceptible to automation are physical ones in highly structured and predictable environments, as well as data collection and processing. In the United States, these activities make up 51 % of activities in the economy, accounting for almost $2.7 trillion in wages.)
  • Between 400 to 800 million individual could be displaced by automation by 2030
  • On the bright side, 8% to 9% of 2030 labor demand will be new jobs that didn’t exist before
  • Almost every occupation has partial automation potential
  • Our scenarios suggest that half of today’s work activities could be automated by 2055, but this could happen up to 20 years earlier or later depending on various factors, in addition to other economic conditions
  • Taking these factors into account, research estimates that between almost zero and 30% of the hours worked globally could be automated by 2030, depending on the speed of adoption

The ‘human touch’ in video games

Why are MMOs (massively multiplayer online games) so popular? Gamers would say it’s because it’s much more fun to play against real people instead of a computer. We can share the story of playing a game, we can ridicule each other and earn the bragging rights when defeating a friend.

Building a real world economy inside video games

We believe that Hoard’s core technology enables virtual employment to become a reality by facilitating a real economy inside computer games.

People can earn a living in computer games in the following ways:

  • Provide others with the experience of playing against an opponent, or as a team player, in a computer game
  • Utilizing craftsmanship skills to create virtual items that people want
  • Acting as a guide in video game quests
  • Acting as a main character in a storyline

Outside of the game, Hoard will facilitate economies on the Hoard Exchange whereby people can buy and sell items that are useful in-game, and even make it possible for users to set up mom and pop-style shops.

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