The growing strength of artificial intelligence threatens millions of jobs, but if regulators stay away, the emerging tech may make society wealthier and more productive.
History has repeatedly shown the same result for other technological advances dating back to the Industrial Revolution, economist Peter St. Onge said.
"Throughout history, we've gone through tremendous technological revolutions. Generally, technologies kill jobs," St. Onge, with the Heritage Foundation, told Fox News Digital. "What happened? Well, you know, we had lots of new jobs. Almost nobody today works on a farm.
"This is sort of the way of the world," he added. The reason why you see technological improvements for any labor-involving function is in order to kill jobs - which is also known as saving work.
St. Onge pointed to the early 1800s, when most people worked on farms, and how the dawn of the mechanization of agriculture killed such employment as farmers turned to machines instead of hiring teams of laborers. READ MORE...
