In previous automation revolutions, we’ve seen people move from one pillar of industry to another. We’ve seen people move from agriculture to manufacturing and from manufacturing to services. Every time this has happened the basic skill-set has increased dramatically. Where do people move to when automation starts making deep inroads into services? More importantly, what kind of skill-sets will people need to be valuable in the future and are those skill-sets even plausible for the majority of people?
A former PM in Australia defined the following pillars to our economy: manufacturing, agriculture, services, education, health, transport and commodities.
Automation has made […]
Industrial Automation Technologies that automate labour tasks do not necessarily increase unemployment. Despite widespread concerns that Artificial Intelligence (AI) will displace workers en masse , there are periods of history where productivity-enhancing technologies have actually increased employment in the affected industries. This runs counter to the simplistic notion that ‘automation causes job losses’ in the industries experiencing automation.
So, why does automation lead to employment growth in some industries at particular times, while leading to job losses at other times and in other industries?
James Bessen , an Economist from Boston University, argues that it has to do with how […]