For centuries after the Industrial Revolution, automation did not hinder wage and employment growth, because it was accompanied by new technologies geared toward maintaining the role of human labor in value creation. But in the era of artificial intelligence, it will be up to policymakers to ensure that the pattern continues.
BOSTON – Artificial intelligence is transforming every aspect of our lives, not least the economy. As a general-purpose technology, AI’s applications are potentially endless. While it can be used to automate tasks previously performed by people, it can also make human labor more productive, thereby increasing labor demand. Unfortunately, […]
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