The disruptive technologies of exponential knowledge automation (next 20 years) will have transformative impact on human labor (full automation of routines and skills, more than quasi-automation of knowledge), leaving human expertise as labor force. This can not happen successfully without a new societal deal, where the sources of economic income, social security and labor relations will be redefined, in legal terms as basic existential guarantees. If we will not act creatively, the game will be over, before we can start to play out workable pathways.

Thanks dr Stephen for valuable answer

thanks for useful input dr khan.

As the field of artificial intelligence continues to expand, prominent scientists, business leaders, and politicians are expressing concerns about what this will mean for the future of work. Many conversations focus on the probability of robots taking away people’s jobs, but economies could be impacted in other ways. According to experts, AI technologies may also change the nature of work and affect financial services. Even if you keep your job, your day to day duties could be drastically altered by new AI-powered tools.

The very recent paper of Aghion et al.(2017) explains everything about AI, in the context of economic growth. Take a look at it!

http://web.stanford.edu/~chadj/AI.pdf

Also, the following webpage of NBER is devoted to the economics of growth and AI - worth browsing.

http://admin.nber.org/themes/productivity_growth/productivityandgrowth.shtml

These must be very helpful to you.

Warm Regards,

Mizuki

thanks dr mizuki for input

thanks for recommendation Dr stephen and Dr Zubir