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Fund Selector: The future of technology

#artificialintelligence

Technological change has always played a role in displacing more manual forms of labour. It has also been pivotal in improving overall economic productivity and acted as a catalyst for the creation of new jobs. Increasing computational power is driving rapid advancements in automation and artificial intelligence, which will likely have a huge positive impact on industries such as healthcare and transportation as well as improving everyday life for many. However, the pace of change is such that governments are struggling to provide a safety net for those detrimentally impacted by this. In his farewell speech, Barack Obama warned: "The next wave of economic dislocations won't come from overseas. It will come from the relentless pace of automation that makes a lot of good middle-class jobs obsolete."