Earlier quoted context omitted.
Why would it drive wages down?! It'd be the exact opposite, and is the reason that wages have been stagnant in STEM, and is the reason for the wage collusion scandal. Companies would have to increase their offers to attract talent from other companies. Or they would have to - as used to be the case everywhere - accept that talent is nurtured from within.
Not sure what on earth you're expecting with STEM wages. Across the economy and in most countries wages have been stagnant and STEM is no exception. And don't forget that most IT projects are not mandatory. If wages rise significantly companies will just cut back on projects which means more unemployed talent and hence the wages will drop back. And there is no evidence that talent is better nurtured from within. It i…
The more likely outcome is companies will adopt more efficient work practices.
A slowly rising cost of labor fuels automation and increased value for society.