current events economics.docx - Robocalypse Now Central Bankers Argue Whether Automation Will Kill Jobs – The New York Times SbcJfeUl JIork®imcJ3

current events economics.docx - Robocalypse Now Central...

This preview shows page 1 - 2 out of 3 pages.

6/28/2017 Robocalypse Now? Central Bankers Argue Whether Automation Will Kill Jobs – The New York Times SbcJfeUl JIork®imcJ3 ECONOMY Robocalypse Now? Central Bankers Argue Whether Automation Will Kill Jobs By JACK EWING JUNE 28,2017 SINTRA, Portugal — The rise of robots has long been a topic for sci-fi best sellers and video games and, as of this week, a threat officially taken seriously by central bankers. The bankers are not yet ready to buy into dystopian visions in which robots render humans superfluous. But, at an exclusive gathering at a golf resort near Lisbon, the big minds of monetary policy were seriously discussing the risk that artificial intelligence could eliminate jobs on a scale that would dwarf previous waves of technological change. “There is no question we are in an era of people asking, ‘Is the Robocalpyse upon us?’” David Autor, a professor of economics at the Massachusetts Institute of Technolog) 7 , told an audience on Tuesday that included Mario Draghi, the president of the European Central Bank, James Bullard, president of the Federal Reserve Bank of St. Louis, and dozens of other top central bankers and economists. The discussion occurred as economists were more optimistic than they had been for a decade about growth. Mr. Draghi used the occasion to signal that the European Central Bank is edging closer to the day when it will begin paring measures intended to keep interest rates very low and bolster the economy. “All the signs now point to a strengthening and broadening recover) 7 in the euro area,” Mr. Draghi said. His comments pushed the euro to almost its highest level in a year, though it later gave up some of the gains. But along with the optimism is a fear that the economic expansion might bypass large swaths of the population, in part because a growing number of jobs could be replaced by computers capable of learning — artificial intelligence.
Image of page 1

Subscribe to view the full document.

Image of page 2
  • Fall '10
  • SariCarter

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes