“Creative disruption” is a process by which the invention of one very useful thing brings major changes for many others. It is related to “creative destruction” (the rapid obsolescence of some activities as new mechanisms emerge) which dates back to sociologist Werner Sombart over a century ago and was brought into mainstream economic thought by Joseph Schumpeter in the 1940s. These phenomena happen frequently in niches across the economy. For example, telephone switchboard operators largely went away due to automation. These disturbances are healthy and, indeed, essential to progress, but can engender very difficult transitions.
Artificial Intelligence (AI) is a disruptor on steroids! While not yet perfected, its deployment is affecting essentially every industry and type of work. Few occupations will be left unchanged, with workers either using it to be more productive or out of work entirely as AIdriven robots and sensors or software displace them.
The only remotely comparable shift in recent times is the internet. People became more productive, as they could easily communicate, send information, and conduct research. However, there were also significant disruptions, such as the rise of e-commerce and online advertising and the resulting effects on traditional retail outlets and aspects of print media.
