The benefits of new technologies accrue not only to high-skilled labor but also to owners of capital in the form of higher capital incomes. This increases inequality. To make this argument, we develop a tractable theory that links technology to the personal income and wealth distributions - and...

By digitizing operations, companies may replace manual work with increased automation, but they may also augment human work through smarter execution. The authors present a conceptual framework that distinguishes the different levels of digitization, automation, and intelligence. This framework...