Summary of How to Reform Worker-Training and Adjustment Policies for an Era of Technological Change

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How to Reform Worker-Training and Adjustment Policies for an Era of Technological Change summary

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Advances in artificial intelligence and robotics have aroused fears of mass unemployment and turbulence in the labor market. Microsoft founder Bill Gates, among others, has advocated steps to rein in progress. But Robert D. Atkinson, founder of the nonpartisan Information Technology and Innovation Foundation, argues that tech innovations will only benefit America’s economy and workers – though workers will need support. Atkinson’s comprehensive report details policies to accommodate innovation and mitigate its costs. getAbstract recommends this analysis to policymakers, economists, executives and those who worry about losing their jobs to robots.

In this summary, you will learn

  • Why American workers shouldn’t fear innovations in artificial intelligence and robotics,
  • How technological innovations can benefit the economy and workers alike, and
  • What the US government should do to “reduce the costs of worker dislocation.”
 

About the Author

Robert D. Atkinson is the founder and president of the Information Technology and Innovation Foundation, a research and educational institute focusing on the intersection of technological innovation and public policy. 

 

Summary

In the coming decades, technological innovations in artificial intelligence (AI) and robotics offer the potential to improve worker productivity and wages, bring down prices, and raise living standards. But unfounded fears about effects on the labor market are leading many observers to oppose these innovations. Productivity growth doesn’t cause higher unemployment; it reduces production costs and makes lower prices and higher wages possible. Technological innovations will raise productivity mainly in low-wage occupations, “freeing up” millions of low-wage workers to take better-paying jobs and increasing wages for many more.

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