{"id":81938,"date":"2018-08-21T13:23:30","date_gmt":"2018-08-21T20:23:30","guid":{"rendered":"https:\/\/lifeboat.com\/blog\/2018\/08\/bank-of-englands-chief-economist-warns-a-i-could-threaten-large-amount-of-jobs"},"modified":"2018-08-21T13:23:30","modified_gmt":"2018-08-21T20:23:30","slug":"bank-of-englands-chief-economist-warns-a-i-could-threaten-large-amount-of-jobs","status":"publish","type":"post","link":"https:\/\/lifeboat.com\/blog\/2018\/08\/bank-of-englands-chief-economist-warns-a-i-could-threaten-large-amount-of-jobs","title":{"rendered":"Bank of England\u2019s chief economist warns A.I. could threaten \u2018large\u2019 amount of jobs"},"content":{"rendered":"<p><a class=\"aligncenter blog-photo\" href=\"https:\/\/lifeboat.com\/blog.images\/bank-of-englands-chief-economist-warns-a-i-could-threaten-large-amount-of-jobs.jpg\"><\/a><\/p>\n<p>\u201cThis is the dark side of technological revolutions and that dark side has always been there,\u201d Haldane added. \u201cThat hollowing out is going to be potentially on a much greater scale in the future, when we have machines both thinking and doing \u2014 replacing both the cognitive and the technical skills of humans.\u201d<\/p>\n<hr>\n<p>Haldane said that the so-called Fourth Industrial Revolution \u2014 a digitally-driven paradigm shift similar to previous industrial revolutions in the West \u2014 had the potential to displace numerous jobs and leave people \u201ctechnologically unemployed.\u201d<\/p>\n<p>\u201cEach of those [industrial revolutions] had a wrenching and lengthy impact on the jobs market, on the lives and livelihoods of large swathes of society,\u201d Haldane told the <a class=\"\" href=\"https:\/\/www.bbc.co.uk\/news\/business-45240758\">BBC<\/a>.<\/p>\n<p>The BOE economist cautioned that previous industrial revolutions resulted in \u201cheightened social tensions,\u201d \u201cfinancial tensions\u201d and \u201cinequality.\u201d The First Industrial Revolution, which took place during the Victorian era, transformed Britain\u2019s economy, leading to the creation of ground-breaking industrial innovations including the steam train and advanced machine tools, all the while resulting in layoffs especially in industries like textiles.<\/p>\n<p><!-- Link: <a href=\"https:\/\/www.cnbc.com\/2018\/08\/20\/bank-of-england-haldane-ai-could-threaten-large-amount-of-jobs.html\">https:\/\/www.cnbc.com\/2018\/08\/20\/bank-of-england-haldane-ai-c...-jobs.html<\/a> --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cThis is the dark side of technological revolutions and that dark side has always been there,\u201d Haldane added. \u201cThat hollowing out is going to be potentially on a much greater scale in the future, when we have machines both thinking and doing \u2014 replacing both the cognitive and the technical skills of humans.\u201d Haldane said [\u2026]<\/p>\n","protected":false},"author":417,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,1878,45,6],"tags":[],"class_list":["post-81938","post","type-post","status-publish","format-standard","hentry","category-economics","category-employment","category-finance","category-robotics-ai"],"_links":{"self":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/81938","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/users\/417"}],"replies":[{"embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/comments?post=81938"}],"version-history":[{"count":0,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/posts\/81938\/revisions"}],"wp:attachment":[{"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/media?parent=81938"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/categories?post=81938"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifeboat.com\/blog\/wp-json\/wp\/v2\/tags?post=81938"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}