{"id":16394,"date":"2023-11-30T21:12:04","date_gmt":"2023-11-30T19:12:04","guid":{"rendered":"https:\/\/www.liberalglobe.com\/?p=16394"},"modified":"2023-11-30T21:12:04","modified_gmt":"2023-11-30T19:12:04","slug":"tycoons-are-calling-for-a-three-day-work-week-along-with-artificial-intelligence","status":"publish","type":"post","link":"https:\/\/www.liberalglobe.com\/?p=16394","title":{"rendered":"Tycoons are calling for a three-day work week, along with artificial intelligence"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">In many European countries, unions are calling on their governments to introduce the four-day week. The idea is simple: Employees will work four days a week, with the same wages and benefits, but much more productively. Proponents of the four-day work week believe that if established, it will increase employee satisfaction and thus productivity.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At the same time, however, Bill Gates goes even further: He proposes the establishment of a three-day work week and believes that artificial intelligence (AI) will help with this. &#8220;If we eventually get to a society where people only have to work three days a week, that&#8217;s probably a good thing. Machines will be able to produce all food and products,&#8221; the Microsoft founder said on the &#8216;What Now&#8217; podcast.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Although many fear that artificial intelligence, in addition to the assistance it will provide, will lead to a replacement of the workforce and therefore mass unemployment, Gates is more optimistic and points out that the evolution of &#8220;machines&#8221; could help us to we don&#8217;t have to work so &#8220;hard&#8221; and shorten our work week.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIn the short term, the productivity gains achieved with artificial intelligence are very interesting. It takes some of the hard work out,&#8221; adds the philanthropic tycoon and the world&#8217;s fourth-richest person. At 68 years old, Gates has acquired a more &#8220;philosophical&#8221; vision of the importance of work: &#8220;The purpose of life is not just to work,&#8221; he emphasized.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Substitute for people<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A few months ago, through his personal blog &#8220;<a href=\"https:\/\/www.gatesnotes.com\/\">Gates Notes<\/a>&#8220;, he expressed his opinion about artificial intelligence and the sectors that were going to be most affected by the invasion of this technology.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this context, Gates stated that artificial intelligence will be introduced into education and that, thanks to its capabilities, this technology could &#8220;replace&#8221; teachers. In turn, he identified the sales sector as another one that would be &#8220;affected&#8221;. According to the Microsoft founder, customer service activities, managing documents or files do require decision-making ability, but because the same rules are always followed, AI can learn them and do these jobs with ease.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But also in health care, Gates says that although a machine can never replace a doctor&#8217;s work, this technology can be used for &#8220;consultative work&#8221; in places where a doctor can&#8217;t always reach or to &#8220;decision-making&#8221;.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>&#8220;Week&#8221; of 3.5 days<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bill Gates isn&#8217;t the only tycoon to predict that people won&#8217;t have to work five days a week to earn a living thanks to artificial intelligence.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">JPMorgan CEO Jamie Damon claims the next generation of workers will work just 3.5 days a week and &#8220;live to be 100&#8221; thanks to technology.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Elon Musk also, who sleeps at the office to demonstrate his dedication to work, believes that artificial intelligence will eliminate the need for work and create &#8220;universal high incomes&#8221;.<br>&#8220;You can have a job if you want to have it for personal pleasure. But artificial intelligence could do it all,\u201d argues the Tesla CEO.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In this context, Goldman Sachs has warned about the impact this type of technology can have on the workforce. The investment bank estimates that artificial intelligence could &#8220;replace 300 million full-time jobs globally in the coming years.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Four day week<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Apart from the forecasts, there are cases of countries where the experience of the shorter working week could be implemented after several tests, carried out several years ago. This is the case, for example, in Iceland, where the four-day working week was tested between 2015 and 2019.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Similarly, in 2021, in Japan, the government&#8217;s annual economic policy guidelines included a &#8220;recommendation&#8221; that companies allow workers to choose a four-day work week.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Iceland ran the world&#8217;s largest pilot project for a 35- to 36-hour week (instead of the traditional 40-hour week) without requiring a corresponding pay cut. About 2,500 people participated in the test phase. To ensure quality control, the results were evaluated by the British think tank Autonomy and the Icelandic non-profit Association for Sustainability and Democracy (ALDA).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The pilot project was described as a success by researchers, and Icelandic unions subsequently negotiated a reduction in working hours. The study also led to a major change in Iceland: almost 90% of the workforce now has reduced working hours. Researchers found that stress and burnout among workers decreased and work-life balance improved.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Belgium and England<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In February last year, Belgian workers had the right to work four days without a pay cut.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The law came into effect on November 21 and allows workers to decide whether they want to work four or five days a week. But that doesn&#8217;t mean they&#8217;ll work less \u2013 they&#8217;ll just spread their working hours over fewer days. The aim is to give people and companies more freedom in organizing their working hours.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Belgian Prime Minister Alexandre de Croix hopes the change will help make Belgium&#8217;s rigid labor market more flexible and make it easier for people to balance family life with career.<br>He also expressed hope that the new model would create a more dynamic economy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;The goal is to give people and companies more freedom to organize their working hours,&#8221; de Croix said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Companies in England which ran a six-month trial of the four-day working week are now planning to make the shorter working week permanent after deeming the experiment &#8220;extremely successful&#8221;.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some 61 companies in England and more than 3,300 employees have signed up to the scheme, which was suggested by researchers from the universities of Cambridge and Oxford, as well as non-profit advocacy groups such as 4 Day Week Global and the British think tank Tank Autonomy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>&#8220;Model 100:80:100&#8221;<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some 92% of companies that took part in the trial subsequently decided to keep the four-day week, calling the pilot a &#8220;big breakthrough&#8221;. Under the project, workers are expected to follow the \u201c100:80:100 model\u201d \u2013 100% of wages for 80% of the time, in exchange for a commitment to achieve at least 100% productivity.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&#8220;Similar programs are to be launched in the US and Ireland, while others are planned for Canada, Australia and New Zealand,&#8221; said Joe Ryle, UK director of the 4 Days a Week campaign. Spain also started a test phase with a small pilot program for a four-day work week. The pilot project aims to help small and medium-sized enterprises shorten their weekly working hours by at least half a day without reducing wages.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Companies participating in the project can receive support from a state fund worth 10 million euros, but must find and demonstrate ways to increase productivity that compensate for the additional wage costs, according to Spain&#8217;s Industry Ministry.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Cases of failure<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, not all governments have had the same success with Iceland&#8217;s four-day week. In Sweden, a four-day week with full wage compensation was trialled in 2015 \u2013 with mixed results. The proposal was for workers to work six hours instead of eight without reducing wages. Even the left parties believed that it would be too expensive to implement this on a large scale.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Positive results were seen in the orthopedic department of a university hospital, which recruited new staff to make up for lost time. The reaction of the medical staff was positive, but the experiment was also heavily criticized and ultimately not extended.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In many European countries, unions are calling on their governments to introduce the four-day week. The idea is simple: Employees will work four days&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[620,946],"tags":[864,1067,803,1600],"class_list":["post-16394","post","type-post","status-publish","format-standard","hentry","category-business","category-companies","tag-artificial-intelligence","tag-bill-gates","tag-elon-musk","tag-employment"],"_links":{"self":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/16394","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16394"}],"version-history":[{"count":1,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/16394\/revisions"}],"predecessor-version":[{"id":16395,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/16394\/revisions\/16395"}],"wp:attachment":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}