Rage against the machines: is automation a threat to prosperity?

Numerous commentators have raised concerns about the effect of automation on jobs. In 2015, the Bank of England’s chief economist, Andrew Haldane, suggested that as many as one third of jobs in the UK – 15 million – could be lost to automation. Examples could include drivers replaced by autonomous vehicles and administrative staff replaced by intelligent assistants like Amazon’s Alexa. Moreover, where automation in the past affected low-skill jobs, smarter machines and artificial intelligence automation could affect a much broader range of jobs in the future, including many high-paid, high-skilled positions.

Fears about automation have been around ever since […]

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