Entrepreneurship stems from innovation and digitalization allows much more innovation to happen. The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies, If you gained something from this article let me know with a comment or heart. First examples of AI (camera that interprets images) and digital interconnection of humans promise accelerated growth. A “fascinating” (Thomas L. Friedman, New York Times ) look at how digital technology is transforming our work and our lives., The Second Machine Age, Work, Progress, and Prosperity in a Time of Brilliant Technologies, Andrew McAfee, Erik Brynjolfsson, 9780393350647 Es fesselt und fasziniert zugleich. Focus on science. Written sym - bols to facilitate counting also existed then, but they did not include the concept of zero, as basic as that seems to us now. Hence, increased efforts to boost entrepreneurship will lead to more innovation and productivity. The Machine Age is an era that includes the early-to-mid 20th century, sometimes also including the late 19th century. Erik and Andrew's thesis: As massive technological innovation radically reshapes our world, we need to develop new business models, new technologies, and new policies that amplify our human capabilities, so every person can stay economically viable in an … They argue that the Second Machine Age involves the automation of a lot of cognitive tasks that make humans and software-driven machines substitutes, rather than complements. The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies is a 2014 book by Erik Brynjolfsson and Andrew McAfee which is a continuation of their book Race Against the Machine. Innovation is enhanced by the number of eyeballs and computers and that leads to great predictions for the future. Management-Journal - Fazit: "The Second Machine Age" ist eine spannende Reise in die Welt der technologischen Erneuerung, die auf alle Bereiche des Lebens abfärbt. In The Second Machine Age, the great software-defined businesses of tomorrow will be the ones that usher in breakthrough innovations that do new things entirely-- the kind of innovation that generates new value by opening up unforeseen market opportunities: new products, new services, new ways of servicing customers, and new jobs. So the most important thing to focus on is to keep people working. Whereas the Internet provides great fun for us, compared to historical achievements it’s performance is not really economically significant till now. One factor is the amount of work people put in the development of the computer industry. Meaning there is the way to make millions having a new idea, or just competing with machines and get paid nearly nothing. Focus on education. The information age with it’s mostly free services and improvements provides different economics and special measurement problems. Ich habe das Buch erst gestern erhalten und habe es bereits einen Tag später regelecht verschlungen. Ready or not, the second machine age … Das Buch "The Second Machine Age" von Erik Brynjolfsson und Andrew Mcafee ist wirklich unglaublich faszinierend und spannend. The authors give a bunch of prescriptions to solving some of the problems they perceive coming down the pike. In the result everyone will benefit, but not all benefits are the same. The best way to use new technologies is not to replace human workers with machines, but restructure processes. Even though computers are much faster in computing certain tasks, at this time, the don’t even come close to reach the complexity and speed of human brains. The two most important changes we will have are: The creation of true machine intelligence and the connecting all humans over digital networks. The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies | Brynjolfsson, Erik, McAfee, Andrew | ISBN: 9780393350647 | Kostenloser Versand für alle Bücher mit Versand und Verkauf duch Amazon. What they call "bounty" is their attempt to measure the benefits of new technology in ways reaching beyond such measures as GDP, which they say is inadequate. This summary contains some quotes from the book and is designed to provide an overview about what this book is about. Positive correlations between business productivity and the use of IT has been found several times. A country’s ability to improve its standard of living over time depends almost entirely on its ability to raise its output per worker.Innovation is how the productivity growth happens. Research also showed, that today most students only spend 9% of their time studying (reading and writing). Everything that can be reduced to the simplicity of rules (algorithms) the computer can solve. Both bounty and spread will grow in the future. second machine age, the first great economic consequence of the exponential, digital, combinatorial progress taking place at present. [1], Some examples that the book cites include "software that grades students' essays more objectively, consistently and quickly than humans" and "news articles on Forbes.com about corporate earnings previews" — "all generated by algorithms without human involvement."[2]. The authors summarize the contents of their book's 15 chapters [3] on pages 11 and 12 of the book itself. They contrast this with what they call the "First Machine Age", or Industrial Revolution, which helped make labor and m… One thing that computers can’t do is being creative and coming up with new ideas. The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies is a 2014 book by Erik Brynjolfsson and Andrew McAfee which is a continuation of their book Race Against the Machine. They argue that the Second Machine Age involves the automation of a lot of cognitive tasks that make humans and software-driven machines substitutes, rather than complements. The strength of “The Second Machine Age” is how it weaves macro- and microeconomics with insights from a wide range of other disciplines into an accessible and convincing story. Thank to innovation and technology especially low-income and middle-income groups are better off today than in any previous period. “The Second Machine Age offers important insights into how digital technologies are transforming our economy, a process that has only just begun. Just working more hours doesn’t improve productivity, but organizational and business changes made through technology does. We are living in a time of brilliant technologies: cars that drive themselves; Jeopardy!-champion supercomputers; cheap, flexible, and useful robots; algorithms that make better decisions that humans; and countless others. Considering trends and looking at previous achievements, we can see, that overall living standards have increased enormously. Google’s car, Apple’s voice assistant and the Jeopardy! Machine age definition: the period in the early 20th century when there was greater production and more new... | Meaning, pronunciation, translations and examples A fundamentally optimistic book, The Second Machine Age alters how we think about issues of technological, societal, and economic progress. Most of the time is used for socializing, recreating and other. -- Dieser Text bezieht sich … The thrust behind the “second machine age” is the computer, dubbed by Time Magazine in 1982, as the machine of the year. Everything you do is changing. Drawing on years of research and up-to-the-minute trends, IDE co-directors Erik Brynjolfsson and Andrew McAfee identify the best strategies for survival and offer a new path to prosperity in the digital age. computer are good examples of how capabilities increased steadily and then suddenly. The warehouse robot Baxter shows the immense advantages a robot has over mechanical human workers. It says that the weaknesses of the book are that its policy prescriptions are "straight from the talking points that tech executives have been peddling for years on their visits to the capital", even though they are "perfectly reasonable". Now comes the second machine age, where we use computers for doing mental work. The implications are exciting, the possibilities are motivating, and some implications are nothing short of worrying. They take their premise to the point where the machines (androids) will start to replace most of what we do now. But not only the power, also the range in various effected fields lead to much faster growth. Now comes the second machine age. To remain a valuable knowledge worker in the future work to improve the skills of ideation, large-frame pattern recognition, and complex communication instead of the three „R“s (reading, writing, arithmetic). The 1940s saw the beginning of the Atomic Age, where modern physics About 2MA; Press & Media; Excerpt; Authors; Contact; Authors. The Second Machine Age. A New York Times Bestseller. Innovation today is almost everything. 4 The Second machine age safe estimate puts it in Mesopotamia around 3,200 BCE. Considered to be at its peak in the time between the first and second world wars, the Machine Age overlaps with the late part of the Second Industrial Revolution (which ended around 1914 at the start of World War I) and continues beyond it until 1945 at the end of World War II. Pattern recognition is still an area where humans are much faster and better than machines. The anecdote of the emperor and the chessboard full of rice shows that exponential growth leads to staggeringly big numbers. Writing a slightly faster code might be enough to dominate a market, whereas the 10th fastest code is completely forgotten. However, strong points can be made that changing working fields need an adaption for workers that cause, at least temporarily, unemployment. A New York Times Bestseller. This book, The Second Machine Age, shows how we are changing the world in ways more profound that what has taken place from the 18th century until now. Make sure to follow for more :), 3.Moore’s law and the second half of the chessboard, 4.The digitization of just about everything, 6.Artificial and human intelligence in the second machine age, 10.The biggest winners: stars and superstars, 11.Implications of the bounty and the spread, 12.Learning to race with machines: recommendations for individuals, Stat arb hedge funds powered by machine learning, Automated Machine Learning: Myth Versus Realty, An Emotionally Intelligent AI Could Support Astronauts on a Trip to Mars. Another important factor in economic measurement are intangible assets, like human capital, intellectual property, organizational capital and user-generated content. Erik Brynjolffson and Andrew McAfee, The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies (review) Read 747 reviews from the world's largest community for readers. Currently we live in a world, where we experience tremendous progress in digital technologies, the changes will be very beneficial for humans but there will arise new threats as well. An approximate dating would be about 1880 to 1945. Now business models evolve around the fact that, information is costly to produce but cheap to reproduce (like Google search). One hundred years ago, a computer was an employee’s job title, only much later replaced by a machine. Moore’s law: „The complexity for minimum component costs has increased at a rate of roughly a factor of two per year.“ His „law“ was merely an observation in those days and hold up very well ever since. They provide a great overview about the most recent trends and developments in this century and build a connection to it’s economics. Digitization is the work of turning all kinds of information and media, text, sound, photos, video, data from instruments and sensors — into the ones and zeros, the native language of computers. Obwohl sich das Buch auf US-Märkte stützt und die amerikanische Gesellschaft in den Fokus rückt, lassen sich die Prognosen problemlos auf Westeuropa übersetzen." A way to measure would be the consumer surplus: How much would a consumer be willing to pay? The second machine age is affecting change and the book presents many good examples. Technology has supercharged the ability to leverage their talents via digitization and globalization. Here is a short summary from Brynjolfsson and McAfee’s newest book “The second machine age”. Computers and other digital advances are doing for mental power—the ability to use our brains to understand and shape our environments—what the steam engine and its descendants did for muscle power. They’re allowing us to blow past previous limitations and taking us into new territory. The implications are exciting, the possibilities are motivating, and some implications are nothing short of worrying. The Second Machine Age. New software doesn’t often needs more than a few programmers and designers. How you do it, ischanging. That year also witnessed median incomes peak in the United States, and a subsequent rise in productivity. History shows that with the development of the steam machine in 1765 the human social development started to rise very quickly This was the first machine age — it was possible for the first time to produce massive amounts of mechanical power. “The real problem is not whether machines think but whether men do.”. Risks will increase, but so do opportunities to solve and handle them. Hence GDP equals not economic growth. The second one, spread, means there are large and growing differences among people in income, wealth, and other important circumstances of life. Focus on Startups. 7 The list of important developments goes on and on. Erik Brynjolfsson (@erikbryn) is the Schussel Family Professor at the MIT Sloan School, the Director of the MIT Center for Digital Business, and a Research Associate at the National … The Second Machine Age: Wie die nächste digitale Revolution unser aller Leben verändern wird: Autoren: Erik Brynjolfsson, Andrew Mcafee: Verlag: Plassen Verlag, 2014: ISBN: 3864702224, 9783864702228: Länge: 368 Seiten : Zitat exportieren: BiBTeX EndNote RefMan: Über Google Books - Datenschutzerklärung - Allgemeine Nutzungsbedingungen - Hinweise für Verlage - Problem melden - … The modern number-ing system, which we call Arabic, arrived around 830 CE. History shows that with the development of the steam machine in 1765 the human social development started to rise very quickly This was the first machine age — it was possible for the first time to produce massive amounts of mechanical power. The authors delve into the economics and what the ramifications will be. And lastly, adapt taxation accordingly. It can be delivered to millions at almost zero cost. And that’s what’s happening right now in the machine age — we have arrived at the second half of the chessboard. Statistics will even more important, since the amount of input being created and analyzed increases. Posted March 3, 2015 by admin. As long as there are unmet needs and wants in the world, unemployment is a loud warning that we simply aren’t thinking hard enough about what needs to be done. Monday, January 20, 2014 . Not only what is taught but how it is taught. PDF | On Nov 1, 2014, Xiaojing Dong and others published The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies | Find, … They use "spread" as a shorthand way to describe the increasing inequality that is also resulting from widespread new technology. Digitization allows to exploit economic properties of digital information like non-rivality and close to zero marginal cost of reproduction. Computers nowadays are capable of more than just calculating numbers, they process symbols. How you do it, ischanging. They are bringing us into a second machine age, the greatest era of transformation since the Industrial Revolution. The price of null makes these services invisible in official statistics (like the GDP) but nevertheless add value to the economy. That's what the first machine age was all about. The Washington Post says that its strength is how it weaves micro and macroeconomics with insights from other disciplines into an accessible story. With this new age, income is very spread. Erik and Andrew's thesis: As massive technological innovation radically reshapes our world, we need to develop new business models, new technologies, and new policies that amplify our human capabilities, so every person can stay economically viable in an … Always adapt to new technologies as soon as possible and find meaningful work for people. Finally, in chapters 12 through 15, the authors prescribe some policy interventions that could enhance the benefits and reduce the harm of new technologies. The second machine age : wie die nächste digitale Revolution unser aller Leben verändern wird. 4 min read. Focus on matching employees and employers. Now businesses need to reshape their organizations and attitudes to thrive in this second machine age, integrating three core areas: minds and machines, products and platforms, and the core (centralized institutions) and crowd. When I was first starting to formally study design in the late 80s, I came across a book at the MIT Press bookstore with the weighty title, “Theory and Design in the First Machine Age,” written by the architectural critic Reyner Banham. This is the second instalment in a series of posts (and Working Paper in progress) that reflect on aspects of Erik Brynjolfsson and Andrew McAfee’s influential book, The Second Machine Age (2014), in order to examine how different historical understandings of technological revolutions can influence policy recommendations in the present. The true singularity like in „Matrix“ is not yet to come. Brynjolfsson, Erik, (2014) Second Machine Age is the time when machines are now able to take over a lot of cognitive tasks that humans can do. The Second Machine Age offers important insights into how digital technologies are transforming our economy, a process that has only just begun. The new book by Erik Brynjolfsson and Andrew McAfee, authors of Race Against the Machine. Technology brings opportunities. 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