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In the long run, technology often makes workers' lives better, but there is a big difference between using it to automate existing work and creating entirely new capabilities.

AI Is Making Economists Rethink the Story of Automation

AI Is Making Economists Rethink the Story of Automation

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Absolutely agree! While technology does automate various processes, the true potential lies in its ability to innovate and create new possibilities. This is where we need to focus our efforts in order to truly leverage technological advancements.

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Shantanu Mehta

Financial Reporting | Financial Analysis | Cost Accountant | Budget Accountant |

3w

I don’t think one can control what technology can or cannot do. For sure, it reduces the time and effort spent on mundate tasks. Data analytics and visualisation have become prevalent, thanks to technology. These require specific skills and abilities. The advent of creating entirely new capabilities lies with the regulatory body that approves the launch of such systems onto the market. Maybe give them a reality check on why it shouldn’t be out there in the first place.

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Prasenjit Singh

Technologist | Digital Innovation & Management

3w

The contrast between automation and innovation is striking in this image. While robots are taking over assembly lines, they're also enabling new possibilities.

Perhaps the key to leveraging AI successfully is using it to perform logic and process based tasks while humans look at revising their thinking to revert to being more human - leveraging the power of automation to bring back more respect, kindness and compassion in to into individual interactions rather than assuming macro models fit everything. Be more Captain Kirk and let AI do the Mr Spock!!

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