We're rapidly entering a world where everything can be monitored and measured. But the big problem is going to be the ability of humans to use, analyze and make sense of the data.

For a long time, the humans are going to be better than the machines and so different parts of the job will be leveraged. In a way that's happened for centuries, and we've adapted. And it's made the people who had parts of their jobs automated more valuable and more productive to the extent that they are essential for the other components of their jobs.

G.D.P. is not a measure of how much value is produced for consumers. Everybody should recognize that G.D.P. is not a welfare metric.

Before information age, living standards basically were flat. Since then, they've been growing 2 percent a year were about 30 times richer. So technology, machines is really, you know, arguably the most important thing that's happened to humanity in terms of our living standards. You could look to the introduction of digital computers in the 1950s.

What can we do to create shared prosperity? The answer is not to try to slow down technology. Instead of racing against the machine, we need to learn to race with the machine.

Machines already are much smarter than us at so many things. I mean, try to multiply two 10-digit numbers with each other or, you know, sift through a thousand documents. So there's lots of things that machines are better at including in mental task than us. There's many more that they're not as good at, but the direction is pretty obvious and the progress is clear.

Because the process of innovation often relies heavily on the combining and recombining of previous innovations, the broader and deeper the pool of accessible ideas and individuals, the more opportunities there are for innovation.