Principal Research Scientist Andrew McAfee speaks with BBC Radio’s David Grossman about the impact that artificial intelligence could have on various aspects of our lives. McAfee predicts that AI will reinvent, not replace capitalism, and that “even if things become very, very cheap because of technological progress that doesn’t strike away at the pillars of the capitalist system.”
A study co-authored by Prof. Erik Brynjolfsson and graduate student Daniel Rock finds that specific tasks, not jobs, are likely to become automated, writes Joe McKendrick for Forbes. The researchers explain that, “machine learning technology can transform many jobs in the economy, but full automation will be less significant than the re-engineering of processes and the reorganization of tasks."
In an article for the Financial Times, Prof. Erik Brynjolfsson writes about his new research showing that advances in machine learning could help fuel a surge in productivity and economic growth around the world. Brynjolfsson writes that as machine learning systems develop, “we can have not only higher productivity growth, but also more widely shared prosperity.”
A new paper by Prof. Erik Brynjolfsson argues that machines and automation will replace specific tasks rather than entire jobs, writes Adi Gaskell for Forbes. As an example, Gaskell notes that there are 26 tasks associated with radiologists, and while “analyzing medical images is well suited to AI, interpersonal skills are currently not.”
Writing in The Atlantic, Amy Merrick describes Walmart's increasing reliance on the gig economy and automation, arguing that "the U.S. economy is tilting further toward jobs that give workers less market power." Merrick cites research by Prof. David Autor, who explains that “the concern should not be about the number of jobs, but whether those jobs are jobs that can support a reasonable standard of living.”
In a new working paper, Prof. Daron Acemoglu and his co-author argue that the rise in automation is linked to the aging of the blue-collar population. “The study shows that workers feeling the brunt of automation in lost jobs and lower wages are between the ages of 36 and 55. Those findings should make it easier for policy makers to track down the most affected workers—and help them survive the robot rush,” writes Ana Campoy for Quartz.
Speaking to Bloomberg’s Emily Chang and Selina Wang, Lecturer Luis Perez-Breva suggests that fear of AI stems from confusing it with automation. Perez-Breva explains that in his view, “we need to make better businesses that actually use this technology and AI to take advantage of the automation and create new jobs.”
Using recent analyses by Prof. Frank Levy, Eduardo Porter of The New York Times explores the notion that AI will eliminate jobs and negatively impact American politics. Prof. Daron Acemoglu suggests that with more employment options in large cities, the backlash “will be more muted than it was when trade took out the jobs of single-industry company towns.”
Writing for The New York Times, Thomas Edsall highlights research by Profs. Daron Acemoglu and David Autor examining how automation and trade impacted the 2016 presidential election. “The swing to Republicans between 2008 and 2016 is quite a bit stronger in commuting zones most affected by industrial robots,” explains Acemoglu. “You don’t see much of the impact of robots in prior presidential elections.”
In an article for The Wall Street Journal, Greg Ip highlights a new study by Prof. Erik Brynjolfsson and graduate student Daniel Rock that examines why advances in technology have not yet led to increases in productivity. Ip writes that, “the authors blame these lags on the cost and time it takes for businesses to adapt to new technologies.”
Writing for The Boston Globe, President L. Rafael Reif issues a call for allies to help address the changing nature of work in the age of automation. “Automation will transform our work, our lives, our society," writes Reif. "Whether the outcome is inclusive or exclusive, fair or laissez-faire, is up to us.”
According to Prof. Robert Merton, wealth advisors are unlikely to be replaced by robots, writes Stacey Yuen for CNBC. Merton explains that the problem with replacing wealth managers with robo-advisors is a lack of trust. “What you need to make technology work is to create trust. Technology doesn't create trust on its own,” he notes.
WGBH’s Craig LeMoult reports on the future of work conference held at MIT this week, which examined how automation may impact the labor market. Prof. Erik Brynjolfsson explained that, “we're using technologies to augment not just our muscles but our brains, allowing us to control the world and make them figure things out more effectively.”
A paper from MIT researchers suggests that small towns will be more negatively impacted by automation than larger cities, writes Ari Gaskell for HuffPost. The researchers found that, “automation is more likely in roles with repetitive tasks playing a major part, and such lower skilled roles tend to be concentrated more in smaller towns than larger cities.”
Principal Research Scientist Andrew McAfee addresses problems with job growth in the U.S. and the belief that robots will take jobs from humans on WBUR’s Radio Boston. “The problem that we’re facing in this country is not that we stopped creating jobs,” McAfee says. “We’re creating more lower-middle class jobs that are less well paid, more precarious.”