Apr 3, 2017

Redefining Work, Income in the AI Economy

Posted by in categories: economics, robotics/AI

By Paula Klein

Is work becoming obsolete? Will Americans learn to love their leisure time? As the spotlight focuses on AI and its various implementations, former Harvard Professor Jeffrey Sachs, now at Columbia University and a special adviser to the United Nations, has some strong and diverse opinions about the macroeconomic impact of robots on the role of work in the future.

At a Mar. 24 seminar hosted by MIT IDE — the same day Treasury Secretary Steven Mnuchin amazed the tech community by saying AI wasn’t even on his radar — Sachs described AI developments as a “huge” with implications as vast as any previous seismic technology wave. “We are in the midst of a major transformation” that will fundamentally change civilization from the past, he said.

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