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Thomson Reuters Labs™

Building shared prosperity in the second machine age

Mona Vernon  Chief Technology Officer, Thomson Reuters Labs

Mona Vernon  Chief Technology Officer, Thomson Reuters Labs

How can we create economic prosperity in the digital era? A competition from MIT identifies and celebrates organizations that are inventing a more inclusive, productive, and sustainable future for all.

The Second Machine Age: Work, Progress and Prosperity in a Time of Brilliant Technologies (2013) is the best selling book about “the automation of a lot of cognitive tasks that make humans and software-driven machines substitutes, rather than complements”. Coauthored by Andrew McAfee and Erik Brynjolfsson, co-founders of the MIT Initiative on the Digital Economy, they heard from policy makers, workers, and organizations about the impact of technology and digitization on businesses, the networks, and the rise of intelligent machines.

The MIT Inclusive Innovation Competition (IIC)  was born out of this quest to celebrate organizations that create economic opportunity in the digital era. The thinking is that digital innovations (Second Machine Age) can enable greater prosperity, but that prosperity is not shared equally among the masses. The Inclusive Innovation Competition identifies and celebrates those organizations that are inventing a more inclusive, productive, and sustainable future for all.

I recently had the privilege of participating in this competition as  judge.

The categories for awards ranged from: Skills, Matching, Humans & Machines, New (business) Models and the Judges’ Choice awards each explained further here. These categories combined together represent the basic ingredients for transforming the digital economy, according to Erik.

In a conversation with Erik recently, we discussed the MIT IIC competition and ways in which technology can help grow the economy and create jobs.

A conversation with MIT’s Erik Brynjolfsson

Help us spread the word about this innovation inclusive opportunity (competition) for shared prosperity, and join me in celebrating the winners of the MIT IIC. With combinatorial innovation each time one person innovates, it creates a building block for other people to build on, as we are connecting to the global Internet, it leads to a faster growth for everybody.

Learn more

Visit Innovation @ to learn more about how we are pairing technology with human expertise at Thomson Reuters Labs™.

Read the RISE Financial Inclusion Hackathon report –  designing FinTech services for the ‘unbanked’ and underserved.

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