The Technological Revolution: The Rise of Machines

Marco Magnani ()
Additional contact information
Marco Magnani: LUISS Guido Carli

Chapter Chapter 2 in Making the Global Economy Work for Everyone, 2022, pp 17-52 from Springer

Abstract: Abstract We are living in the most innovative period in all of human history. On the one hand, the technological and scientific revolution opens up unprecedented opportunities: accelerating human progress, improving the quality of life and overcoming many constraints. From an economic point of view, technology and science can increase productivity and expand the economy generating wealth, relieve humans from heavy and dangerous activities, and increase labour flexibility. On the other hand, some technologies can be used for criminal activities, terrorism, sabotage, restriction of personal freedoms, repression and other ethically controversial objectives. The risks also affect the sustainability of economic growth, the fabric of society and the future of labour, humanity as a whole and its role. Simply witnessing technological development as a mere spectator is not possible. New technologies influence the way we live, think, produce and work. Beyond the technical aspects, they introduce new mental, cultural and strategic models. The upcoming wave of innovation affects everyone. To ride this wave instead of being overwhelmed by it, one must grasp the main innovations and understand how they work and are connected to one another.

Keywords: Tech revolution; Digital economy; Knowledge economy; Disruptive innovation; Robot; Drones; Driverless car; Big data; Artificial Intelligence; Machine learning; Blockchain; Quantum computing; Virtual reality; Biotechnology; Nanotechnology; Space economy (search for similar items in EconPapers)
Date: 2022
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-92084-5_2

Ordering information: This item can be ordered from
http://www.springer.com/9783030920845

DOI: 10.1007/978-3-030-92084-5_2

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().