The twenty-first century will be the century of intelligent machines. Artificial intelligence (AI) has begun to transform the economy as it as enables machines to do more and more of the cognitive tasks that were once done only by humans. In the coming decade, many existing tasks will be replaced by machines, while new ones will emerge. Almost every job will be affected in some way and most will need to be redesigned. Businesses will rise and fall depending on how well they understand, foster and harness the changing skills that are needed to be productive. Economies will thrive if they can create and update the institutions needed to create these skills.