- Advances in artificial intelligence definitely change the kind of skills that labor needs to supplement the next generation of robots.
- If robots can essentially replace a large chunk of labor, then businesses will stop hiring workers and instead replace them with robots.
- The article is published in collaboration with the Washington Center for Equitable Growth .
- The answer lies, to an extent, on how technological growth affects demand for labor in the United States and around the world.
- Past experience with technological change, Furman argues, shows that new technologies don’t reduce demand for all labor, but rather shift the composition of demand for workers.
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@ValaAfshar: “Artificial intelligence global quarterly financing history #AI”
Jason Furman, chairman of the President’s Council of Economic Advisers gave a speech last week on the “opportunities and challenges” presented by artificial intelligence. The potential challenges of artificial intelligence are, to put it in the terms of some recent economic policy conversations, problems posed by the “rise of the robots.” The question at the heart of the debate is how concerned should we humans be about the impact of future technological change on our economy and society? Will we all be thrown out of work? Will new technologies make production so easy that economic growth absolutely booms? Or, perhaps more realistically, will something in between happen?
Artificial intelligence: opportunity or challenge for the US economy?