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- Herausgeber: European Investment Bank
- Kategorie: Wissenschaft und neue Technologien
- Sprache: Englisch
Over the last decade, Europe and most advanced economies experienced a decline in productivity, leading to political unrest and rising uncertainty about the future. A new production revolution, enabled in part by artificial intelligence (AI), is now emerging, bringing a new wave of technologies, but there are widespread fears that these changes also will bring a big rise in unemployment as machines replace human beings in big numbers. History tells us that we should not be afraid of industrial change. AI will take over some tasks, but this will not happen all of a sudden and there will be plenty of work left for humans. Restricting or slowing down new technology will not help the world economy. Instead, nations need to help people adjust to more technically advanced jobs, while education should focus more on "21st century skills" such as teamwork and critical thinking. These are our next real challenges. This is the second essay in the Big Ideas series created by the European Investment Bank.
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Veröffentlichungsjahr: 2019
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Notes
About the European Investment Bank
The European Investment Bank is the world’s biggest multilateral lender. The only bank owned by and representing the interests of the EU countries, the EIB finances Europe’s economic growth. Over six decades the Bank has backed start-ups like Skype and massive schemes like the Øresund Bridge linking Sweden and Denmark. Headquartered in Luxembourg, the EIB Group includes the European Investment Fund, a specialist financer of small and medium-sized enterprises.
DON’T FEAR AI
Robert Atkinson
The findings, interpretations and conclusions are those of the authors and do not necessarily reflect the views of the European Investment Bank.
BIG IDEAS
Over the last decade, Europe and most advanced economies have experienced a decline in productivity, leading to political unrest and rising uncertainty about the future.
A new production revolution, enabled in part by artificial intelligence (AI), is now emerging, bringing a new wave of technologies, but there are widespread fears that these changes will also bring a big rise in unemployment as machines replace human beings in large numbers.
History tells us that we should not be afraid of industrial change. AI will take over some tasks, but this will not happen all of a sudden and there will be plenty of work left for humans. Restricting or slowing down new technology will not help the world economy. Instead, nations need to help people adjust to more technically advanced jobs, while education should focus more on “21st century skills” such as teamwork and critical thinking. These are our next real challenges.
This is the second essay in the Big Ideas series created by the European Investment Bank.
The EIB has invited international thought leaders to write about the most important issues of the day. These essays are a reminder that we need new thinking to protect the environment, promote equality and improve people’s lives around the globe.
DON’T FEAR AI
Over the last decade productivity has declined in most advanced economies and Europe’s performance has been especially disappointing: since the last financial crisis labour productivity in the 28 EU Member States grew just 0.7 annually. At this rate, it will take a century for Europe’s per-capita incomes to double. No wonder there is political unrest across the continent.
Thankfully, a “next production revolution,” enabled in part by artificial intelligence (AI), is emerging. This could boost growth in Europe’s productivity, wages and gross domestic product (GDP) perhaps as soon as five to ten years from now, but fully capturing the benefits of this new production revolution will require European policymakers and the European public to embrace rather than resist its rapid emergence and the transformation of most industries in the continent.
A major barrier to a whole-hearted embrace of the next production revolution comes from the growing narrative from a set of vocal techno-Jeremiahs that this technology-driven productivity acceleration is something to be feared and slowed, as it will eliminate massive numbers of jobs, leading to mass dislocation and even a jobless future. Nothing could be more wrong, for the simple reason that technology spurs productivity, which in turn spurs more spending, creating other jobs. Periods of higher productivity in the US economy have been correlated with lower unemployment rates.
Faux “solutions” such as universal basic income, a tax on “robots,” or regulations that shackle innovation, are not only unnecessary, but would also be harmful, slowing income growth and keeping workers out of the labour market. There will be plenty of jobs, but Europe needs better policies and programmes to help workers make successful adjustments to face the next production revolution.
