“ATMs made bank branches cheaper, so banks opened more branches,” Epstein explains. “Tellers became a totally different job. Kind of a marketing person but also doing sales, customer service, using a mix of skills. Tech displaces people, but it does create more jobs. But those jobs are much less repetitive and require much broader skills.”

The integration economy is going to become more important. The explanation might have something to do with Moravec’s paradox, the discovery that machines often seem very good at the things humans are very bad at.