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The Fourth Industrial Revolution

Will It Become AI/Robots vs Mankind?

The late great Stephen Hawking was quoted saying this about AI/artificial intelligence and the end of mankind:

“The development of full artificial intelligence could spell the end of the human race.”

“It would take off on its own, and re-design itself at an ever increasing rate.”

“Humans, who are limited by slow biological evolution, couldn’t compete, and would be superseded.”

In other words, AI and mechanical technology, in additional to new technologies, are growing and can grow at an exponential rate, where as we frail humans, may take decades and generations to make the evolutionary changes required to keep up.

The fact is without genetic engineering, there is little way we could keep up.

So as humans with our frailties, and we can use technology to make robots and create AI that can think for itself, what happens to use….as humans?

Do we become Overlords of an industrial world of robots, or are we simply Minion to the great machines we build.

What is The Fourth Revolution?

The Fourth Revolution in its simplest terms is like the three (3) revolutions before it, something that changes the way we live; technology, the digital age, social media, AI, and all of this rolled into one, to change how we live.

The previous revolutions (industrial revolutions):

* Mechanical Age: the steam engine changing the way we live

* Science and Mass Production: gasoline engines, chemicals being used, mass production of food and products

* Digital Age: transistors instead of tubes, cable for TV’s, satellites

and the Fourth Revolution:

Wireless cars, 3D printers, robots, flying and/or autonomous cars.

So how big can this revolution go? It may replace us and some of our jobs.

Robots and Jobs

It is thought that by 2030, robots will “replace 20 million jobs”.

That is a lot of jobs!

However, with this rise in the use of robots and the loss of some jobs, productivity will increase.

Automation is becoming more the norm now in everything.

If you phone a company and get a call centre, the calls are automated to a point to try and get you to the right person, but not after asking you a few questions, and having you press a few buttons. Even then you can in many instances just say your name or account number and why you are calling.

Banking is almost completely automated, no one goes into bank branches these days. All banking is done online, or on a mobile application.

By moving towards a cashless society we are also moving towards more automated and robotic use of technology.

Of course until robots and AI and even automated industries can repair themselves, humans will be needed as the minions of repair.

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Every lender on our website has their own specific criteria by the basics are mentioned below and you must have a guarantor to be eligible. Simply select the lender of your choice and you will be taken directly to their website where you can apply. You will be required to submit your details including:<li style=”text-align: center;” data-mce-style=”text-align: center;”>Name (must be over 18 as the borrow, 21 or 25 as the guarantor)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Residence (your chances will improve if your guarantor is a homeowner)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Employment status (must be employed or on a pension)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Income (earning at least £600 per month and able to make repayments)</li><br /><li style=”text-align: center;” data-mce-style=”text-align: center;”>Monthly expenses (not have too many loans open or in major debt)</li>
 
You will then be asked to include the details of your guarantor and as mentioned above, this is usually someone who you know and trust and wants to help you with your personal finances. Ideally, a guarantor with good credit will maximise your chances of being approved based on the idea of ‘if someone with good credit trusts you, well we can too.'<strong>How Much Can I Borrow From Guarantor Loans?</strong>Guarantor Loans gives applicants the chance to borrow £500 to £15,000 depending on the lender. Some lenders we feature like Buddy Loans only have a maximum loan value of £7,500 and TFS Loans is the only lender that stretches up to £15,000.Factors that can influence the amount you can borrow revolve around having a good guarantor. One that is a homeowner, with solid employment, income and good credit rating will maximise your chances of borrowing the largest drawdown possible.The lenders featured on Guarantor Loans see a homeowner as someone who has already gone through the rigorous process of credit checking and affordability and if they can afford a house, they should be able to act as a guarantor for you.By comparison, having a guarantor that is not a homeowner offers slightly less security and means that amount you can borrow is slightly less too.Higher amounts may be available to those who already have a better than average credit rating, are homeowners themselves and a repeat customer with the lender who has already paid their loan on time. To apply directly with your lender of choice see <a href=”https://www.paydaybadcredit.co.uk/direct-lender/” data-mce-href=”https://www.paydaybadcredit.co.uk/direct-lender/”>direct lenders</a>.<strong>What Does The Guarantor Have To Do?</strong>Upon completing an application, the lender will typically send you a <a href=”https://www.handbook.fca.org.uk/handbook/CONC/4/2.html” data-mce-href=”https://www.handbook.fca.org.uk/handbook/CONC/4/2.html”>pre-contract loan agreement</a> and SECCI (Standard European Consumer Credit Information form) which will highlight the terms of your loan. You and your guarantor will be required to review the terms of the loan, including the loan drawdown, fees, repayment dates and responsibilities – and this can be signed via an online verification process using your email and mobile phone.The lender will usually carry out an individual phone call with you and your guarantor to ensure that you both understand the responsibilities and what is required of you – notably that if you cannot make repayment, your guarantor will be required to pay on your behalf. Further to some additional credit and affordability checks, funds can typically be transferred within 24 to 48 hours (or sometimes on the same day).<strong>Are Guarantor Loans Available For Bad Credit Customers?</strong>Yes, even if you have a history of adverse credit, <a href=”https://www.gov.uk/county-court-judgments-ccj-for-debt” data-mce-href=”https://www.gov.uk/county-court-judgments-ccj-for-debt”>CCJs</a>, bankruptcy or IVAs several years ago, you can still be eligible. The idea is that you are using your guarantor and their financial history to ‘back you up’ and give your loan extra security. However, it is noted that your guarantor should have a good credit score and consent to co-signing your loan agreement.<strong>How Soon Can I Receive Funds?</strong>Guarantor Loans works with lenders that can facilitate funds within 24 to 48 hours of approval, or sometimes on the same day.When your funds are successfully transferred, most lenders working with Guarantor Loans will send the full amount to the guarantor’s debit account first. This is a standard security measure carried out by lenders to ensure that the funds are going to the right person and confirms the involvement of the guarantor. The guarantor usually has a ‘two week cooling off period’ where they can decide to pass on the money to the main borrower or they can change their mind and return the funds with no extra charges.