Abstract

Advancement in AI, robotics, machine learning, and automation has started to replace many structured, routine, and repetitive jobs. McKinsey Global Institute’s report (2017) estimates that by 2030, automation may displace between 400 million and 800 million individuals and these individuals will need to switch job categories and learn new skills. MIT’s Daron Acemoglu and Boston University’s Pascual Restrepo (2017) find that each additional robot in the US economy reduces employment by 5.6 workers, and every robot that is added to the workforce per 1,000 human workers causes wages to drop by 0.25 to 0.5 percent. In the past, technology advancement has consistently generated more new jobs than it destroys. Will it be the same this time? The three panelists will present their views on the topic from different perspectives.

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