AI and the future of work

What was perhaps most fascinating, however, was how complex the problem at hand seems to be, and how varied the proposed solutions were. Commenting on why the current automation trend appears to be so strong, Daron Acemoglu (MIT Professor of Economics and coauthor of the New York Times 2012 best-selling book Why Nations Fail) spoke about how many of the most highly compensated professionals in the workplace today are turning their creative talents to "automate, automate, automate" all available technologies, which tends to adversely affect lower-wage workers. And when asked what they would do if given a "magic wand" to protect the current workforce against automation, speakers proposed making the U.S. tax code more favorable to workers by taxing capital gains at a higher rate; dramatically expanding educational opportunities, particularly alternatives to traditional four-year college degrees; and in the developing world, making social security benefits portable. Secretary Acosta, who delivered the keynote address, declared that in a rapidly automating world, "it is critical that we adapt the culture of lifelong learning," at both the personal and policy levels. Having worked in the technology sector for the six years between my undergraduate career and joining Erb, I have personally experienced the incredible rate of current technological change, and I absolutely agree with Acosta's sentiment.