In ordinary life, one does not think much about the Earth's magnetic field. Many people would know little about it. But it is important as the magnetic forces shield us from cosmic radiation; without it the Earth would become like Mars. But there are concerns by a minority of thinkers that the decrease in the Earth's magnetic field could be an indication that the poles are going to switch at some point. There is no debate among geophysicists that the poles do switch, but when is the issue.
What has been observed is that the Earth's magnetic field is decreasing; according to a 2003 report in Science.org, the decrease was 10 percent in the last 160 years: https://www.science.org/content/article/earths-waning-magnet. More recent observations indicate that the decrease is getting worse:
https://www.youtube.com/watch?v=oiecffQdpK8.
Most science sites I have looked at say that even given this it will take a decrease of around 90 percent for a polar reversal: https://science.nasa.gov/science-research/earth-science/flip-flop-why-variations-in-earths-magnetic-field-arent-causing-todays-climate-change/. Hence there is nothing to be concerned about, or so they say. But such a decrease, even a 50 percent decrease, would have a major impact upon life on Earth, as solar radiation and cosmic rays would penetrate the Earth's atmosphere to a greater degree. As well, the protection offered by the magnetosphere to solar storms and mass ejection events, would decrease.
At present there is not enough information to call this, but this does tell the tale, that humans are part of not just the Earth, but the cosmos, and are not shielded totally in the womb of society by economics.