Technological progress drives productivity improvements and increases wealth, but the distribution of those gains depends on both technological and political factors. The debates we see now over the impact of AI on social welfare are not new: similar debates surrounded previous waves of innovation. One thing we have learned from those previous waves is that society and politics can dramatically impact the trajectory of technological change.
Simon Johnson is the Ronald A. Kurtz Professor of Entrepreneurship at the MIT Sloan School of Management, where he is head of the Global Economics and Management group. He has also co-authored several books, his latest being Power and Progress: Our Thousand-Year Struggle Over Technology and Prosperity with Daron Acemoglu.
Simon and Greg discuss how technological advances had disrupted industries in the past, ranging from the industrial revolution in the English midlands to the mass production of Henry Ford in America. They discuss how some innovations can bring about catastrophe, as in the 2008 financial crisis, and the current landscape of disruptive technology and Artificial Intelligence (AI) in particular. Simon talks about how it may be deployed in business but how, in education, there will be an adjustment period before being incorporated.
Listen in for insights on the past, present, and anticipated future of technology and prosperity with Simon Johnson.
*unSILOed Podcast is produced by University FM.*
