Artificial Intelligence

Two myths about automation, debunked

Robotic arms work on the underside chassis of 2014 Dodge Ram pickup trucks at Chrysler Group's Warren Assembly Plant in Warren, Michigan December 11, 2013. Chrysler Group LLC, which is owned by Fiat SpA, on January 29, 2014, said its revenue would rise 11 percent to about $80 billion in 2014. The American automaker that went through bankruptcy in 2009 and came out managed by Fiat, is now fully owned by the Italian company, which reported fourth-quarter earnings on Wednesday below expectations of analysts. Chrysler's fourth-quarter net income of $1.62 billion, up 329 percent from the previous year, included a $962 million non-cash tax benefit related to the release of a valuation allowances on deferred tax assets. Picture taken December 11, 2013.      REUTERS/Rebecca Cook (UNITED STATES - Tags: TRANSPORT BUSINESS EMPLOYMENT) - GM1EA1T1SVA01

The coming technological transformation won’t entail occupational shifts on the scale of the Industrial Revolution. Image: REUTERS/Rebecca Cook

Barry Eichengreen
Professor of Economics and Political Science, University of California, Berkeley
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