Race Against The Machine Essay

1823 words - 8 pages

Executive Summary
This paper is briefing of book called “Race against the Machine” written by Erik Brynjolfsson and Andrew McAfee. This paper focuses on the impact of technology on the current employment issues. Three explanations of current economic issues that is cyclical, stagnantion and “end of work” is provided (Brynjolfsson & McAfee, 2011). Then the idea of excessive progress in technology making man jobless is presented and to support it various arguments are put forward. Secondly the idea of technology development causing division of labor into high skilled, low skilled, capital, labor, superstars and ordinary labors is presented and explained in detail. Finally remedies for solving ...view middle of the document...

The employment statistics have hit all time low value during this period when compared to any other recessions. Recovery of GDP after the recession in 2011 is quite good but the recovery of employment rate is still below par. In order to explain the low employment rate analysts have 3 theories cyclical, stagnation and end of work. Cyclical theory according to this theory analysts Paul kraugman & Peter Orszag feels that high unemployment rate is because of less demand and according to them after any great recession the demand drops drastically and as a result employment rate has recovery rate will be slow. Second explanation of stagnation is explained by Tyler Cowen. Cowen in his book great stagnation defines that America’s debacle in economics is not only due to the present recession but also due to its decline in using new technologies to increase in productivity. Third explanation is “End of work” according to this theory improvement or advancement in technology as made life of humans simple but at the same time it had made people jobless. Most of this paper discusses the point of how technology advancement has impacted on human jobs. (Brynjolfsson & McAfee, 2011)
Problem: Technology advancement impact on Jobs
Till date we knew the strengths and weaknesses of the computer with respect human. But computers are intruding some of the places where humans held upper hand over computers. These intrusions have made a major impact on the job availability as explained in previous chapters. Computer could perform basic and straight forward applications accurately but if we consider complex applications such as driving in traffic where pattern recognition is required computers fail to perform [1]. This statement was supported by results of event called DARPA Grand challenge in 2004. DARPA grand challenge was event where automated vehicles were allowed to race in a desert and computers drastically failed. But 6 years later that is 2010 Google team was successful in automating Toyota pirus to larger extent when compared to the previous machines which took part in DARPA challenge. These cars were capable enough to travel 1,000 miles without human involvement. Building an autonomous system is not easy but not impossible. Another example that is mentioned in New division of labor that emphasizes that human have upper hand over machines is the concept of complex communication. Human interactions involve complex things like emotions while communicating which are ambiguous. Progress in the field of complex communication was slow till recently before the launch of customer support system Geofluent machine which collected the data from the customer of any language and translated into the Service provider understandable language. Geo fluent was system developed using statistical machine developed by IBM and digital libraries of Lionbridge. Watson proved reliable, when it took place in a televised game show called jeopardy and managed to win by greater margin...

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