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Dissertation

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Micro Economics

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Effects of Manufacturing Technology on Human Labour in the UK.

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Abstract

The world has experienced a technological storm in recent times. Technological growth and

innovations have been welcomed by most nations as they increase efficiency and production

levels, especially in the manufacturing sector. In recent times, technological innovations have

gone ahead to develop Artificial Intelligence with the most recent innovation being the Lucid AI.

The development of AI has arisen a heated debate between techno-optimists and techno

pessimists. The techno pessimist believes that the growth of technology and especially artificial

intelligence would lead to future humankind unemployment levels increase and low wages in

what is termed as "technical substitution". On the other hand, techno-optimists believe that the

growth n technology is likely to lead to an economic expansion and thus lead to the creation of

new roles and jobs thereby reducing unemployment rates. This research seeks to contribute to

this debate by analyzing three of the most common AI tools in the manufacturing sector using a

case study of the UK.

Keywords: Artificial Intelligence, innovations, Lucid AI, Techno optimists, techno

pessimists, technical substitution.

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1 Effects of Manufacturing Technology on Human Labour in the UK. 2 Abstract The world has experienced a technological storm in recent times. Technological growth and innovations have been welcomed by most nations as they increase efficiency and production levels, especially in the manufacturing sector. In recent times, technological innovations have gone ahead to develop Artificial Intelligence with the most recent innovation being the Lucid AI. The development of AI has arisen a heated debate between techno-optimists and techno pessimists. The techno pessimist believes that the growth of technology and especially artificial intelligence would lead to future humankind unemployment levels increase and low wages in what is termed as "technical substitution". On the other hand, techno-optimists believe that the growth n technology is likely to lead to an economic expansion and thus lead to the creation of new roles and jobs thereby reducing unemployment rates. This research seeks to contribute to this debate by analyzing three of the most common AI tools in the manufacturing sector using a case study of the UK. Keywords: Artificial Intelligence, innovations, Lucid AI, Techno optimists, techno pessimists, technical substitution. 3 Table of Contents Abstract........................................................................................................................................................ 2 1.1 Background .................................................. ...
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