What if the AI revolution isn’t what we’ve been promised? What does an economist and bestselling author have to say about the idea that Big Tech may be overselling the future of artificial intelligence? In this episode, Oxford economist and Associate Professor of AI & Work, Carl Benedikt Frey, shares his skeptical perspective on the impact of artificial intelligence. He explains what it could mean for the future of work, including job market shifts and the necessity of skills development. This conversation takes a critical look at the economic changes driven by AI, challenging the dominant narrative around productivity and technological progress. While Big Tech describes a future of abundance, Carl argues that history tells a more complicated story. From the Industrial Revolution to the computer age, breakthrough technologies didn’t automatically lead to sustained productivity or shared prosperity, and AI may follow a similar path. Like and follow for weekly episodes. In this episode: 00:00 Intro 00:57 Why the “AI Abundance” narrative might be wrong 01:45 Lessons from the computer revolution & productivity slowdown 03:30 AI vs computers: Automating cognition vs information 05:19 Why Big Tech may be overhyping AI impact 06:20 Automation vs creating new industries 08:08 AI infrastructure race: US vs China 10:25 The “Steam Engine Moment” AI hasn’t reached 12:31 Why technology alone isn’t enough 14:19 Why breakthrough innovation is declining 15:09 The collapse of business dynamism 15:45 Corporate lobbying, patents & barriers to entry 17:27 Why this matters more than AI itself 18:20 Startups vs Big Tech: Who drives innovation? 19:36 Will AI accelerate economic inequality? 21:37 Lessons from the Gilded Age & Antitrust History 24:04 Why strong governments enable competition 25:00 Big Tech vs historical monopolies 26:19 Centralization vs decentralization in innovation 29:01 Japan vs US 33:56 AI and the “more vs better work” problem 35:20 Will AI lower quality in research & knowledge? 36:23 AI: Increasing quantity vs improving quality 38:16 Why AI benefits low-skill workers more 39:49 AI and the rise of global labor competition 40:42 AI-driven offshoring 42:17 Which jobs are most at risk? 44:06 Long-term labor market predictions 46:20 Where humans still beat AI 48:15 The growing anti-AI backlash 49:11 Historical resistance to technology 53:39 Can government reduce AI disruption? 56:01 Why institutions determine outcomes 59:25 Advice for business leaders 01:00:12 Why decentralized companies win 01:02:24 Why innovation requires “waste” Connect with Carl: LinkedIn: https://www.linkedin.com/in/carlbfrey/ X: https://x.com/carlbfrey Our links: Visit our website: https://www.infotech.com/?utm_source=youtube&utm_medium=social&utm_campaign=podcast Follow us on YouTube: https://www.youtube.com/@InfoTechRG