The $3 trillion US bailout package was the perfect short-term fix and a wholly inadequate long-term fix. It provided liquidity to struggling businesses. It provided unemployment benefits to the staggering number of workers who are hitting the unemployment lines. But, it did nothing to help workers get back to work because many of those jobs are obsolete and gone forever.
Many companies are going bankrupt and aren’t coming back. Retail is getting crushed. You can bet that any position eliminated in the crisis that can be automated, will be automated. Beyond the obvious elimination of inefficient manual labor, there is a much more disturbing macro trend. For example, artificial intelligence can now read cancer on an x-ray better than a doctor can.
In short, these “jobs of the past” are gone. The COVID unemployment tsunami is going to accelerate automation.
As the calendar year comes to a close, it’s natural to look back and compare yourself to where you were this time last year. In December 2018, we were celebrating 50,000 graduates with the story of Anna Preis, who earned a Nanodegree from Udacity and used it to build a career she truly cares about. Now, in December 2019, we’re celebrating 100,000 graduates as well as a load of other exciting achievements this year.
Udacity signs the White House Pledge to America’s Workers, funding 100,000 tech and analytics scholarships for workers in the United States.
Today, Udacity is announcing our Pledge to America’s Workers. Over the next five years, we will fund 100,000 Udacity tech and analytics scholarships for workers in the United States, collaborating with local leaders and private sector businesses to support workforce development and build local learning communities. Udacity’s scholarships will equip America’s workers with the skills they need to succeed in high-paying, future-proof careers in fields such as front-end web development, mobile app development, and data analytics.