Automation through technology is not a new phenomenon. Every generation can cite its own case study of how jobs have been replaced by people. However, historically, the segments of the workforce most likely to be disrupted, have been the blue collar workers, and office based work, has proven resilient against that change.
With former President Trump moving to implement his policy agenda, initial measures have already been set in motion. He has declared a state of emergency at the border, leveraging his executive powers to impose tariffs on Canada, China, and Mexico, with the European Union (EU) now in his sights.
Amid a wave of announcements, the most disruptive to the international order is arguably the president’s declaration that global taxation frameworks must be reformed. Specifically, he plans to double taxes on foreign nationals and companies that engage in discriminatory practices against U.S. businesses.
The announcement by the Labour party regarding increasing investment into AI will be welcome news for the industry. Similarly, with over 1,300 AI companies already established in London The UK tech sector overall is now worth £1 trillion and with VC firms are scaling up their funds, indicating that 2025 is set to be a bumper year for investment as UK-based venture capital firms raised $11.3bn in dry powder, a 59% increase from last year.
Fourteen days into the year and the world holds its breath, as Trump prepares to retake control of the White House with a very different policy agenda to Biden. In terms of the economy overall, the USA should therefore continue to outperform other G8 countries, as the combination of tax breaks, deregulation and energy sector growth acts to boost GDP.
