Now that the initial enthusiasm for generative AI has given way to fears of technological unemployment, it is worth considering past episodes of worker resistance to disruptive innovations. Though the Luddites are the most frequently cited parallel, the craft guilds of the Middle Ages are a better analogy.
MILAN – Disruptive technologies are rarely welcomed by workers or others with a significant stake in the status quo. Innovation requires adaptation, and adaptation is costly. Powerful incumbents’ resistance to revolutionary technologies has been a major factor in past periods of stagnant growth. Predictably, the initial enthusiasm for generative artificial intelligence, following ChatGPT’s release last year, has given way to fears of technological unemployment.
MILAN – Disruptive technologies are rarely welcomed by workers or others with a significant stake in the status quo. Innovation requires adaptation, and adaptation is costly. Powerful incumbents’ resistance to revolutionary technologies has been a major factor in past periods of stagnant growth. Predictably, the initial enthusiasm for generative artificial intelligence, following ChatGPT’s release last year, has given way to fears of technological unemployment.