The Impact of Automation on Small Enterprises and Market Dynamics

Contributor(s): Professor Erik Hurst, Professor Chrisanthi Avgerou, Professor Noam Yuchtman | As we move deeper into the 21st century, rapid advancements in automation, robotics, and artificial intelligence continue to reshape industries, raising concerns about the potential impact on workers. Will these innovations lead to widespread job losses? Or, as history suggests, will the labour market adapt? In this insightful lecture, Erik Hurst will explore how recent developments in automation are influencing the labour market. Drawing parallels from the early 20th-century agricultural revolution, where the adoption of tractors and automated farming equipment drastically reduced agricultural employment but did not destabilize overall employment rates, Professor Hurst will examine how current automation trends may produce different effects.