Economists say something similar could happen with artificial intelligence (AI) if it enters our lives in such a way that the touted benefits are enjoyed by the few rather than the many.
Simon Johnson, professor of global economics and management at MIT Sloan School of Management says every technology advancement has a varying affect on humanity but says the risks and benefits tend to repeat.
Johnson stresses that while AI may have a detrimental effect on jobs, he believes that like many technological transformations it will eventually benfit most people.
Although Johnson says this may take 100 years or more.
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