Labor & material/Macro-socio economic harms

Algorithmic systems can increase “power imbalances in socio-economic relations” at the societal level [4, 137, p. 182], including through exacerbating digital divides and entrenching systemic inequalities [114, 230]. The development of algorithmic systems may tap into and foster forms of labor exploitation [77, 148], such as unethical data collection, worsening worker conditions [26], or lead to technological unemployment [52], such as deskilling or devaluing human labor [170]... when algorithmic financial systems fail at scale, these can lead to “flash crashes” and other adverse incidents with widespread impacts