The Oxford Martin Programme on
Technological and Economic Change
The Challenge
The exponential improvement in computing power has led to radical breakthroughs in machine intelligence, with autonomous vehicles and the disintermediation of long established business models indicative of the revolutions to come.
Progress in genetic sequencing and nano materials will have transformative effects upon health and medicine, as well as agriculture. Robotics, the internet of things and 3D printing will transform manufacturing, supply chains and control systems. Meanwhile, dramatic improvements in the efficiency of renewable energy sources and the need to rapidly reduce carbon emissions are leading to radical changes in energy, transport, food and other systems.
New technologies have the potential to fundamentally disrupt economic growth, investment, savings, consumption, employment, incomes, pensions, careers and productivity. Yet our understanding of what this will mean for the global economy, and how it will impact on markets, cities and societies is, at best, limited.
The Technological and Economic Change programme aims to identify the key technological disruptors and consider their impact on the global economy and society. The programme is unique in its approach of combining the expertise of leading scientists and technology experts with economists and social scientists.
The programme also works together with researchers from the School's Technology and Employment programme as part of a consortium on the Horizon 2020 funded 'Tecnnequality' research project. This research aims to understand how technological innovations affect the size and nature of social inequalities as well as the labour market outcomes in the EU. It also looks into policies and institutional configurations that will reduce technology-driven inequalities.
Focusing mainly, but not exclusively, on the largest economies (USA, China, India, Japan, UK and Europe), the researchers will seek to answer a number of questions, such as:
- What can we learn from previous periods of disruptive technological change and how is this period of disruption different?
- Is innovation slowing down or speeding up, and, if it is accelerating, how do we explain stagnant productivity growth in many leading economies?
- What is disruptive technological change likely to bring for key sectors and firms, and which cities and countries are likely to be the winners and losers? And what impact will disruptive technologies have on employment and inequality?
- What is the implication of these disruptions for savings and investment? Could these technologies lead to stagflation, unemployment and more unequal growth? And what is the implication of rising life expectancy for pensions, retirement and savings?
- What are the risks posed by new technologies themselves, for example ‘runaway’ artificial intelligence and cyber warfare?
- How can policy, regulatory and other interventions shape and affect technological change?
The programme will provide fresh insights into the nature of rapid technological and economic change, and its implications for policy makers, government, business, investors and society. It will provide perspectives on education, skills and infrastructure, and investigate potential changes required to frameworks for intellectual property, competition and regulation to enhance productivity, savings, investment and more equitable growth. It will also investigate whether traditional measures of GDP and productivity adequately take account of the different dimensions of progress and technological change.
The Oxford Martin Programme on Technological and Economic Change is part of a research partnership between the Oxford Martin School and Citi, which has provided a generous grant to fund research on Technology and Shared Prosperity.
videos
Book talk: 'Past, present, and future of economic growth: how we should rethink it' with Daniel Susskind
Book talk: 'Age of the City: why our future will be won or lost together' with Prof Ian Goldin
'Remote work across jobs, companies, and space' with Dr Bledi Taska
'Technological change, the future of jobs and development' with Prof Joseph E. Stiglitz
Book Talk: 'Envisioning 2060: opportunities and risks for emerging markets'
latest news
Are mergers necessary for 5G networks?
Research from the Oxford Martin Programme on Technological and Economic Change explores whether mergers in the mobile network industry benefit consumers, or if a new business trend in the sector might be a better approach.
Why has productivity slowed down?
Researchers from the Oxford Martin School have identified a combination of factors driving a slowdown in productivity post-2005 in five advanced economies.
Mobile network sharing has positive impact, say researchers
Researchers, including from the Oxford Martin School, have explored the impact of mobile network sharing across 29 European countries and reported a wide range of benefits for operators and consumers.
AI demand is booming for the right skills and for the technology ‘glue-guys’
Over the past decade, automation technologies have been a key driver of change in the labour market. There has been a huge increase in the demand for AI skills, which has led to different recruitment processes, different job titles and different job specifications.
Oxford Martin School researchers explore Generative AI’s impact
Researchers from the Oxford Martin School have investigated the potential Generative AI has in transforming work across industries, boosting productivity and democratising innovation.
The global supply of Cyber Skills is not meeting demand
Managing cyber security risks is a complex endeavour due to the rising costs of investment in equipment, software, and cyber talent. A new Citi GPS Report, The Cyber Problem: Causes and Consequences of the Risk in Cyber Skill Demand, looks at the market failures involved.
Developing countries need sector-level infrastructure investment to replicate China’s rapid growth
The accepted knowledge that strong individual companies and greater competition drives growth in developing economies is being challenged by a new study from an international team of researchers led by Oxford University and Jilin University in China.
Data as markets – it is time to talk (re)distribution
While the digital economy thrived during the COVID-19 pandemic, it raised deep concerns about the increasing concentration in its key markets, the gaps in privacy regulations and its broader distributional repercussions. This piece by Pantelis Koutroumpis discusses the digital resilience and challenges that come with this.
Contagion: the systemic risks of globalisation
The spread of COVID-19 is alarming. But not surprising. Globalisation creates systemic risks. More flows between countries make risks more contagious.
Urgent action needed to address stagnating productivity, says report
Researchers to tackle ‘Technequality’ challenges as part of Horizon 2020 consortium
Publications
View allTower Companies vs. Mergers in Mobile Networks
Data-Biased Innovation: Directed Technological Change and the Future of Artificial Intelligence
To share or not to share? The impact of mobile network sharing for consumers and operators
Skills That Pay - The Returns from Specific Jobs as Demanded in Job Adverts
Unleashing AI: The AI Arms Race
Best-response dynamics, playing sequences, and convergence to equilibrium in random games
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