Economics of the digital revolution

It is no secret that the digital revolution is impacting everything in our world. All aspects are being changed " from economy, innovation, science and education, to health, sustainability, governance, and lifestyles." Now it is up to us to decide whether this is good thing or a bad thing. Of course things like automation and robotixation are doing wonders for productivity but is it harming the human aspect? Just because things are being done more efficiently, it does not mean the income of the workers are continuing on that upside. Also, the rising of AI and the anticipation of it has worried many as to the effects it will have. It will be a tough social transition regardless if everything goes smoothly and as we have seen with many movements in the past, there is bound to be bumps in the road. Also, we do not want the only people to be benefiting from the advancements to be the company running them. Revisions must be made in order to ensure the common man is benefiting just as well from the new systems . The European Pillar of Social Rights has already been hard at work attempting to bring such benefits to workers.It is evident that "A coherent strategy and policy approach is needed to avoid potential disruptive structural changes and to assure that digitalization benefits the majority of the population, encourages further innovation and development, and that it helps address the global challenges." Without efforts such as this, who knows what can occur when AI becomes a part of all our normal days. It is up to EU officials to regulate and create a level of economic benfit and security for all of soceity. 

Do you guys believe AI will benefit or harm soceity? Maybe both?

 

 

https://ec.europa.eu/knowledge4policy/foresight/topic/changing-nature-work/strategies-to-address-changing-nature-of-work/Economics-of-the-digital-revolution_en

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