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Read online The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies.pdf PDF, EPUB, MOBI, TXT, DOC The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies In recent years Google s autonomous cars have logged thousands of miles on American highways and IBM s Watson trounced the best human em Jeopardy em players Digital technologies with hardware software and networks at their core will in the near future diagnose diseases more accurately than doctors can apply enormous data sets to transform retailing and accomplish many tasks once considered uniquely human In em The Second Machine Age em MIT s Erik Brynjolfsson and Andrew McAfee two thinkers at the forefront of their field reveal the forces driving the reinvention of our lives and our economy As the full impact of digital technologies is felt we will realize immense bounty in the form of dazzling personal technology advanced infrastructure and near boundless access to the cultural items that enrich our lives .

Amid this bounty will also be wrenching change Professions of all kinds from lawyers to truck drivers will be forever upended Companies will be forced to transform or die Recent economic indicators reflect this shift fewer people are working and wages are falling even as productivity and profits soar .

Drawing on years of research and up to the minute trends Brynjolfsson and McAfee identify the best strategies for survival and offer a new path to prosperity These include revamping education so that it prepares people for the next economy instead of the last one designing new collaborations that pair brute processing power with human ingenuity and embracing policies that make sense in a radically transformed landscape .

A fundamentally optimistic book em The Second Machine Age em alters how we think about issues of technological societal and economic progress by Erik Brynjolfsson, Andrew McAfee

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The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies
Title:The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies
Format Type:eBook PDF / e-Pub
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Published:
ISBN:0393350649
ISBN 13:
Number of Pages:336
Category:non-fiction, technology, economics, business, science
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Beyond the Productivity Paradox: Computers are the Catalyst for Bigger Changes, Information Technology and Productivity: A Review of the Literature, Does Information Technology Lead to Smaller Firms? (Classic Reprint), Race Against The Machine, Understanding the Digital Economy: Data, Tools, and Research, Some Estimates of the Contribution of Information Technology to Consumer Welfare (Classic Reprint), The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies, Wired for Innovation: How Information Technology Is Reshaping the Economy, Machine, Platform, Crowd: Harnessing Our Digital Future, Strategies for E-Business Success
This research was sponsored by the MIT Center for Coordination Science the MIT International Financial Services Research Center and the Sloan Foundation The paper is a revised and extended version of an article which originally appeared in the Communications of the ACM in December and also reflects subsequent research in this area br br During the s the relationship between information technology IT and productivity became a source of debate the astonishing improvements in computers underlying capabilities proved almost impossible to assess in terms of their effect on productivity Fueled in part by the emergence of empirical research on IT productivity that generally did not identify significant br productivity improvements the perception that IT failed to live up to its promise prevailed br Recent research is more encouraging as new data are identified and more sophisticated methodologies are applied Several researchers document IT s positive effect on productivity performance Additionally others approach IT s contribution from different perspectives examining its effect on intermediate measures on consumer surplus and on economic growth br Consequently our presumption of a productivity paradox has diminished considerably br However a careful review indicates that unequivocal evidence still remains elusive with new questions emerging even as old puzzles fade This survey categorizes relevant studies into four groups identifies remaining productivity puzzles and reviews four possible explanations for them mismeasurement lags redistribution and mismanagement The paper concludes with br recommendations for investigating each of these explanations including more careful applications of traditional methodologies as well as employment of alternative broader metrics br of welfare to assess and enhance the benefits of IT, i Why has median income stopped rising in the US i div i Why is the share of population that is working falling so rapidly i div div i Why are our economy and society are becoming more unequal i br br A popular explanation right now is that the root cause underlying these symptoms is technological stagnation a slowdown in the kinds of ideas and inventions that bring progress and prosperity br br In i Race Against the Machine i MIT s Erik Brynjolfsson and Andrew McAfee present a very different explanation Drawing on research by their team at the Center for Digital Business they show that there s been no stagnation in technology in fact the digital revolution is accelerating Recent advances are the stuff of science fiction computers now drive cars in traffic translate between human languages effectively and beat the best human Jeopardy players br br As these examples show digital technologies are rapidly encroaching on skills that used to belong to humans alone This phenomenon is both broad and deep and has profound economic implications Many of these implications are positive digital innovation increases productivity reduces prices sometimes to zero and grows the overall economic pie br br But digital innovation has also changed how the economic pie is distributed and here the news is not good for the median worker As technology races ahead it can leave many people behind Workers whose skills have been mastered by computers have less to offer the job market and see their wages and prospects shrink Entrepreneurial business models new organizational structures and different institutions are needed to ensure that the average worker is not left behind by cutting edge machines br br In i Race Against the Machine i Brynjolfsson and McAfee bring together a range of statistics examples and arguments to show that technological progress is accelerating and that this trend has deep consequences for skills wages and jobs The book makes the case that employment prospects are grim for many today not because there s been technology has stagnated but instead because we humans and our organizations aren t keeping up div, An important question that has been debated for almost a decade is whether computers contribute to productivity growth Productivity isn t everything However as noted by the economist Paul Krugman in the long run it is almost everything Productivity growth determines our living standards and the wealth of nations This is because the amount a nation can consume is ultimately closely tied to what it produces By the same token the br success of a business generally depends on its ability to deliver more real value for consumers without using more labor capital or other inputs, We live in strange times A machine plays the strategy game Go better than any human upstarts like Apple and Google destroy industry stalwarts such as Nokia ideas from the crowd are repeatedly more innovative than corporate research labs br br br MIT s Andrew McAfee and Erik Brynjolfsson know what it takes to master this digital powered shift we must rethink the integration of minds and machines of products and platforms and of the core and the crowd In all three cases the balance now favors the second element of the pair with massive implications for how we run our companies and live our lives br br br In the tradition of agenda setting classics like Clay Christensen s em The Innovator s Dilemma em McAfee and Brynjolfsson deliver both a penetrating analysis of a new world and a toolkit for thriving in it For startups and established businesses or for anyone interested in what the future holds em Machine Platform Crowd em is essential reading