UBI as a policy solution for technical unemployment in Industry 4.0? Investigating the viability of policy change to hard line economic management of overhead costs in public administration.

Developing technologies like the internet of things (IoT), Cyber-physical systems (CPS), and machine learning improving Artificial Intelligence (AI), are dubbed as the industry 4.0. Industry 4.0 is predicted to be the fourth industrial revolution that would introduce new possibilities and increases in production efficiency. However, worries exist that advancements in technology will replace human labor. Advancements in technology are predicted to affect around half of all forms of current employment. A Universal Basic Income (UBI) is a publicly well-known argued policy solution that is also suggested by some academic literature. This study looks into UBI as a policy solution for the challenge of technical unemployment during industry 4.0. This study compares UBI policy implantation and experiments in a comparative case study. This research found that UBI as a policy solution would be less efficient at mitigating poverty than a means-tested targeted welfare policy solution. However, lessons learned from UBI cases can be used to improve welfare policies in other aspects.