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UID:47@oxon.bcs.org
DTSTART;TZID=Europe/London:20210218T193000
DTEND;TZID=Europe/London:20210218T210000
DTSTAMP:20220429T115320Z
URL:https://oxon.bcs.org/programme/the-technology-trap-capital-lobour-and-
 power-in-teh-age-of-automation/
SUMMARY:The Technology Trap: Capital\, Labour\, and Power in the Age of Aut
 omation
DESCRIPTION:\nProfessor Carl Frey\, Oxford Martin Citi Fellow\nFrom the Ind
 ustrial Revolution to the age of artificial intelligence\, the history of 
 technological progress and how it has radically shifted the distribution o
 f economic and political power among society’s members will be considere
 d. The Industrial Revolution created unprecedented wealth and prosperity o
 ver the long run\, but the immediate consequences of mechanization were de
 vastating for large swaths of the population. Middle-income jobs withered\
 , wages stagnated\, the labor share of income fell\, profits surged\, and 
 economic inequality skyrocketed. These trends broadly mirror those in our 
 current age of automation\, which began with the Computer Revolution.\n\nJ
 ust as the Industrial Revolution eventually brought about extraordinary be
 nefits for society\, artificial intelligence systems have the potential to
  do the same. But this depends on how the short term is managed. In the ni
 neteenth century\, workers violently expressed their concerns over machine
 s taking their jobs. The Luddite uprisings joined a long wave of machinery
  riots that swept across Europe and China. Today’s despairing middle cla
 ss has not resorted to physical force\, but their frustration has led to r
 ising populism and the increasing fragmentation of society. As middle-clas
 s jobs continue to come under pressure\, there’s no assurance that posit
 ive attitudes to technology will persist.
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