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The same calculation every time and doesn't sleep. >> in many cases he's right. first machine age we replaced muscle power. we had control system, that meant human. as we augment and replace mental power, it's not clear whether humans will be a substitute or compliment for these new machines. in many cases the whole operation does run smoother without humans. >> an example, before we get to the caveat, lets give people the example and the book about tax preparation. >> that's a perfect example. with tax preparation, the folks at intuit and have taken the process and codified it. once they digi...

Electricity replaced that. now you're saying, the second machine age replaces brain power. >> that's right. the first machine age was about relaxing the limits on human muscle power, animal muscle power, steam engine, internal combustion engine, allowed us to move the world, manipulate the world better than before. but the second machine age is much more about relaxing the constraints on cognitive power, mental power, and we expect that just as the first machine age this is going to lead to an inflection point in human economic progress. >> and again, the key difference here that you talk abou...

From the first one. welcome both. >> thank you. >> the second machine age begins, you say, 15 years ago. what happens? >> one of our early indications that things were really different was when gary kasparov, the chess champion, lost to deep blue designed to play chess. we used to think of chess as one of the highest expressions of human intelligence and then the match with deep blue showed us something different. more recently another ibm super computer called watson showed us that human beings were no longer the best "jeopardy" players. it beat ken jennings and brad rutter by more than three...

Easily and effectively reduce poverty in most countries. it's less clear what to do about the super rich. but frankly, if we can help the poor move up, it matters less to me at least that the rich move up even faster. but the great problem, the largest one involving the most people, is the great stagnation. middle-class people have seen their incomes stagnate for decades now. and with technology taking away work and globalization outsourcing jobs, these trends have actually intensified in recent years. a new book, "the second machine age," argues that in the first machine age around the indust...

Different factors -- the rise of the super rich, the rise of a larger group of poor people, and the stagnation of the great middle class. we're actually beginning to see a healthy discussion about the first two, especially about the poor. smart government policies could easily and effectively reduce poverty in most countries. it's less clear what to do about the super rich. but frankly, if we can help the poor move up, it matters less to me at least that the rich move up even faster. but the great problem, the largest one involving the most people, is the great stagnation. middle-class people ...