“On one hand, profit-minded executives absolutely want to automate as much as they can,” said Ben Pring. “On the other hand, they’re facing a backlash in civic society.”

Excerpts from The New York Times’ article:

“All over the world, executives are spending billions of dollars to transform their businesses into lean, digitized, highly automated operations. They crave the fat profit margins automation can deliver, and they see A.I. as a golden ticket to savings, perhaps by letting them whittle departments with thousands of workers down to just a few dozen.

In Davos, executives tend to speak about automation as a natural phenomenon over which they have no control, like hurricanes or heat waves. They claim that if they don’t automate jobs as quickly as possible, their competitors will.

Automating work is a choice, of course, one made harder by the demands of shareholders, but it is still a choice. And even if some degree of unemployment caused by automation is inevitable, these executives can choose how the gains from automation and A.I. are distributed, and whether to give the excess profits they reap as a result to workers, or hoard it for themselves and their shareholders.”

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