Great new report by MIT @workofthefuture task force: "History and economics show no intrinsic conflict among
technological change, full employment, and rising earnings... but we must foster institutional innovations that complement technological change." #futureofwork https://twitter.com/workofthefuture/status/1328676820531736578

One day truly general #AI and highly capable robots might be able to do whole classes of jobs more efficiently than humans, but the adoption and deployment of these technologies take time, and we're just at the beginning of a 30- to 40-year cycle, says @LReynoldsMITIPC

For now, the effect of automation and AI — and digital technology more broadly — has been one of augmentation rather than replacement, making individual workers more productive by automating routine tasks.

However, the trajectory of productivity growth diverged from the trajectory of wage growth. While new technologies have contributed to these poor results, these outcomes were not an inevitable consequence of technological change, nor of globalization, nor of market forces.

Hence, improving the quality of jobs requires innovation in labor market institutions. The authors cite fair labor standards, effective collective bargaining, a well-calibrated federal minimum wage, a larger and more flexible unemployment insurance system, and health insurance.

It also requires an investment in skills at all stages of life: in primary and secondary schools, in vocational and college programs, and in ongoing adult training programs. And a continous investment in R&D in order to "continue the innovation cycle".