Skip to content
City PM
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Opinion
  • DE
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Opinion
  • DE
Thursday 08 November 2018 8:46 am  |  Updated:  Monday 03 June 2019 3:15 am

The tech revolution could be a catastrophic setback for civilisation

By: Nik Gowing and Chris Langdon

Add as a preferred source on Google

Social earthquakes are looming fast from the emerging wave of automation and the tech revolution.

We’ve all seen the headlines about artificial intelligence (AI), the rise of the robots, self-driving cars, and leaps forward in machine learning.

But does society realise what is coming? Will it prepare itself? Can the scale and speed of change be handled politically?

We fear not.

New human frontiers being opened up by this tech revolution must be celebrated. There are huge benefits – AI will cut costs, and has the potential to increases productivity and economic wellbeing.

But who will really benefit?

Chief executives believe that they have a duty to maximise profit – whether that is by selling new technology, or using it to cut labour costs. It is unclear how the advantages of this brave new technological landscape can trickle down from the owners of the robots to those whose jobs are replaced by them.

“Do we have the political courage and conviction to share the wealth wisely?” asks the Royal Society of Arts. It is not clear that we do.

And we are already starting to run out of time. Radical change is anticipated in terms of what work is and how many jobs will no longer require humans. The number of jobs that cannot be done by automation is shrinking fast – according to McKinsey, the next immediate wave of automation will affect 1.1bn people globally.

Only five per cent of jobs are fully automatable, but an overwhelming 60 per cent have significant elements that can be automated.

This is a major societal and economic shift that we cannot afford to ignore – and that’s before we even get into other challenges posed by AI, from the ethics of machine learning to the use (or misuse) of data.

For the moment, we are in a pre-revolutionary state. But that cannot go on for much longer. This is just the beginning, and politicians across the world need to consider what happens next.

The previous three industrial revolutions hold important lessons. As Andy Haldane, chief economist at the Bank of England, warns, the societal challenge of the upcoming great wave of technological change could be every bit as wrenching as the invention of the steam engine and the advent of electricity.

And this time, the public backlash could be far greater.

Our lives today move faster and are better connected than ever before in human history. Politics is growing increasingly polarised, and if governments do not start to handle the upcoming upheaval, they risk facing a revolution that goes beyond the industrial.

There is hope. Interdisciplinary centres have started to address ethical and societal issues – for example, Dr Max Tegmark of MIT helped create the Asilomar Principles on the safe use of AI, engaging economists and ethicists alongside techies.

Why? Because he understands that this isn’t a technological issue for engineers to solve, but one that encompasses the future of society itself. And, as he says, “just because you know how to programme computers, doesn’t make you any more qualified to talk about humans flourishing on the planet”.

Tegmark is ahead of the game. This is a crucial question of our time, and it must not be left to the tech specialists. The societal challenges are too enormous.

But too often, governments lack the bandwidth to identify, let alone address, the plethora of technology-related dilemmas exploding almost daily. Their focus on short-term challenges – from Brexit in the UK to trade wars and business growth – blinds them to the bigger picture.

The whole of society needs to be engaged before it is shocked. This tech revolution could increasingly marginalise humans – the people who vote for politicians and buy products from companies.

Are there lessons from previous industrial revolutions?

To go back to the Bank of England’s Haldane, yes. He talks of past “societal responses” to these eras of change, when both the government and civil society built institutions to cushion the impact.

But time is short given the ever-accelerating speed of change.

We don’t have long before we have to answer existential questions about the future nature of society, widening social inequality, and the ethical dimensions of innovation like quantum computing, biomedicine, and gene editing.

Currently, our mindsets are not deep, flexible, or broad enough to match the enormity of future challenges. This is not just an issue for governments. It is for all of us.

If we get it wrong or fail to move quickly enough, there is a risk of a catastrophic setback to civilisation.

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • News
  • Opinion

Categories

  • Business
  • Opinion
  • Politics
  • Tech

Related Topics

  • Bank of England
  • Brexit

Trending Articles

  • Citroën 2CV returns as a £13,000 electric car, and the timing is no accident

  • The former African gold miner taking on the billionaire Issa brothers

  • Barclays and Lloyds back calls to digitalise UK markets and unlock £33bn boost

  • Wimbledon: HMRC set to slap Sinner and Noskova with £1.6m tax bill

  • Music tycoon Simon Cowell sued by prominent City lawyer

More from City PM

  • Big Tech’s AI capex splurge can’t go on forever

    AI
    Stack of hundred-dollar bills symbolizing wealth and economic growth in the financial news context
  • Debenhams and Revolution unveil new beauty collaboration

    Retail
    Debenhams Group was rebranded from Boohoo Group earlier this year
  • Apple memory chip warning causes fresh Asia tech sell-off

    Markets
    Apple App Store with UK flag and warning sign about potential scams due to proposed CMA competition reforms
  • London Tech Week day three: Workers are adopting AI quicker than their bosses

    Opinion
    Getty Images logo displayed on a digital screen, showcasing the brands iconic design and presence in the media industry.
  • Allianz tech blitz dethrones AXA to claim Europe’s insurance AI crown

    Insurance
    Allianz is set to cut 650 jobs in the UK.
  • Britain’s first sovereign AI model secures blue-chip backing as Starmer unveils £400m plan

    Tech
    Prime Minister Keir Starmer addressing media at a press conference podium, discussing current governmental policies and in...
  • British pensions are about to bankroll the American tech revolution

    Opinion
    SpaceX Falcon 9 rocket launching into a clear sky during May 2026 mission, showcasing advanced aerospace technology
  • Britain must speed up to survive the AI era

    Opinion
    AI data center with rows of servers and cooling systems, showcasing advanced technology and infrastructure innovation

City PM — European politics, business and analysis.

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Topics

  • Business
  • Markets
  • AI
  • Technology
  • Opinion
  • Energy

More

  • Politics
  • Economics
  • Fintech
  • Legal
  • Sport
  • Life

Company

  • About City PM
  • Editorial Policy
  • Corrections
  • Contact
  • Terms of Use
  • Privacy Policy
  • Cookie Policy
© 2026 City PM · Published by CityPM Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
About · Editorial Policy · Corrections · Contact · Privacy · Facebook