Sixty years ago, famous American economist Leonid Hurwicz did groundbreaking research about the economic mechanisms theory. Today, Darden expert is interested in designing mechanisms to solve big challenges like energy usage and traffic flows.
One of the biggest challenges for humanity: Artificial Intelligence and limited resources may lead to an existential race between smart machines and humans. Some elites may re-engineer themselves thanks to technology, but others will likely become economically irrelevant. How can we ensure humans have a fair share of resources?
In a recent paper, University of Virginia Darden School of Business Professor Anton Korinek presents the thought experiment as a part of a broader consideration meant to put society’s increasingly codependent relationship with technology into context.
The realities of the digital age will produce high cognitive and emotional demands on humans for the highest and fastest levels of critical and innovative thinking, hyper-learning and decision-making.
To remain viable, most organizations will have to achieve not only higher-level technological capabilities, but also higher-level human cognitive and emotional performance.
How are digital technologies changing the business landscape? Are new business models disrupting our industry? How can we innovate faster and better? These are questions with which business leaders have wrestled since the world has gone digital. And rightly so.
The convergence of artificial intelligence, increased global mobile connectivity, the Internet of Things, heightened computing power, virtual and augmented reality, and nanotechnology will produce a data tsunami that will require most organizations to transform how they do business.
Darden Professor Bob Bruner and Miller Center Senior Fellow Chris Lu discuss the future of work in the U.S. and the changes technology will continue to bring.