That has been true of every industrial revolution. Nowhere have these costs been felt more acutely than here in Glasgow.   These disruptive side-effects do not self-heal. They need to be managed if the fruits of innovation are not to rot in the fields. That means social safety nets to protect the livelihoods of those disrupted by innovation. And it means social institutions supporting the up-skilling of people. The GSA is a social institution created precisely to meet the latter need. 2  All speeches are available online at www.bankofengland.co.uk/speeches  2    The next 50 years may bring opportunities and challenges every bit as great as any in the past. The Fourth Industrial Revolution will offer huge potential to individuals, economies and societies. But the engine of growth may change, with artificial rather than human intelligence playing a much larger role. Some have called this Life Version 3.0.   The creative forces unleashed by the Fourth Industrial Revolution will need to be carefully managed to avoid a tear in the social fabric. This is likely to require new sets of skills, with creative and social skills at a greater premium. It may require new sets of social institutions and safety nets. And it may require a reorientation of our approach to education, training and work.   The “creative industries” are a thriving sector of the UK economy, generating £ billion of value-added each year. But, in future, we may need every industry and every worker to see themselves as creative.
Rosling, H (2018), Factfulness: Ten Reasons We’re Wrong About The World – And Why Things Are Better Than You Think, Sceptre. Smith, H, Parker, F, Kotze, S and Laurin, M (2013), ‘Multiple independent appearances of the cecal appendix in mammalian evolution and an investigation of related ecological and anatomical factors’, Comptes Rendus Palevol, Vol. 12, No. 6, pp. 339-354. Tegmark, M (2017), Life 3.0: Being Human in the Age of Artificial Intelligence, Allen Lane. Unger, R (2019), The Knowledge Economy, Verso. Viereck (1929), What Life Means to Einstein: An Interview by George Sylvester Viereck, The Saturday Evening Post. 22  All speeches are available online at www.bankofengland.co.uk/speeches  22