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World Economic Forum 2016 Agenda

November 26, 2015 by Admin Leave a Comment

Still not convinced that the Rise of the Robots will trigger a significant socio-economic disruption? Consider this statement from the World Economic Forum about the theme of their 2016 meeting in Davos, Switzerland:

Over 2,500 leaders from business, government, international organizations, civil society, academia, media and the arts will participate in the 46th Annual Meeting of the World Economic Forum in Davos-Klosters, Switzerland, on 20-23 January. The theme of the Meeting is “Mastering the Fourth Industrial Revolution”.

Earlier Industrial Revolutions advanced human progress through new forms of power generation, mass production and information processing. Building on a ubiquitous and mobile internet, smaller, cheaper and more powerful sensors, as well as artificial intelligence and machine learning, the Fourth Industrial Revolution is distinct in the speed, scale and force at which it transforms entire systems of production, distribution, consumption – and possibly the very essence of human nature.

“There are many challenges in the world today, and I feel that one of the most intense and impactful will be shaping the ‘Fourth Industrial Revolution’ – driven by the speed, the breadth and the complete ‘systems innovation’ of technological change underway. The challenges are as daunting as the opportunities are compelling. We must have a comprehensive and globally shared understanding of how technology is changing our lives and that of future generations, transforming the economic, social, ecological and cultural contexts in which we live. This is critical, in order to shape our collective future to reflect our common objectives and values,” said Klaus Schwab, Founder and Executive Chairman of the World Economic Forum.

These are the “serious people” of the world, as the article explains, ” Among the 2,500 participants at the next Annual Meeting will be business leaders from the Forum’s 1,000 member companies, heads of state and government, leaders of international organizations, civil society and religious organizations, academia, the media and the arts.”

In this time of “becoming conscious of this conflict and fighting it out” it is imperative to understand that the elites of the economic world are already mobilizing to formally defend their interests.

Learn more about the 2016 meeting here or more about the World Economic Forum in general here.

Also, read the World Economic Forum’s post, Who Will Win — Robot, Man or Woman? written by Saadia Zahidi.

Saadia-Zahidi_231115-(2)

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Something To Think About:

At a certain stage of their development, the material productive forces of society come in conflict with the existing relations of production....From forms of development of the productive forces these relations turn into their fetters. Then begins an epoch of social revolution.

- Karl Marx

The bourgeoisie cannot exist without constantly revolutionizing the instruments of production, and thereby the relations of production, and with them the whole relations of society.

- Karl Marx and Friedrich Engels

Race Against The Machine:

While the foundation of our economic system presumes a strong link between value creation and job creation, The Great Recession reveals the weakening or breakage of that link. This is not merely an artifact of the business cycle but rather a symptom of deeper structural change in the nature of production. As technology accelerates on the second half of the chessboard, so will the economic mismatches, undermining our social contract and ultimately hurting both rich and poor...

Erik Brynjolfsson and Andrew McAfee, Race Against The Machine: How the Digital Revolution is Accelerating Innovation, Driving Productivity, and Irreversibly Transforming Employment and the Economy

From Foreign Affairs Magazine:

In a free market the biggest premiums go to the scarcest inputs needed for production.
In a world where capital such as software and robots can be replicated cheaply, its marginal value will tend to fall, even if more of it is used in the aggregate. And as more capital is added cheaply at the margin, the value of existing capital will actually be driven down.

- Erik Brynjolfsson, Andrew McAfee, and Michael Spence
Labor, Capital and Ideas in the Power Law Economy
Foreign Affairs Magazine, July/August 2014

From the National Bureau of Economic Research:

In short, when smart machines replace people, they eventually bite the hands of those that finance them.

- from the working paper "Robots Are Us: Some Economics of Human Replacement"

On the Lighter Side:

For following joke is attributed to cosmologist Stephen Hawking:

Scientists finally achieve the creation of a strong AI system capable of more computational power than all human brains combined.
The first question they ask it is, "Is there a God?"

The AI responds, "There is now."

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