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00:00:01
>> Pittsburgh, once the steel capital of America, and a symbol of Rust Belt decline. Now emerging as a vibrant hub for robotics, biomedical companies, and self-driving cars. But the tech revival has come at a cost.>> I'm Heather Somerville, technology correspondent with Reuters. I am in the East Liberty neighborhood of Pittsburgh, Pennsylvania, right on Penn Avenue.
00:00:24
This neighborhood has been one of the most dramatically transformed by the technology renaissance. In East Liberty, there are new businesses popping up, new hotels, new apartments going for about $1,300 for a one bedroom. And this is something brand new to this community, which has over the last couple of decades been rather depressed.
00:00:47
Now some of the small business owners here tell me that they're happy to see all the influx of new people, which they can turn into customers. It's bringing some of them new revenue, others are very wary about growing prices.>> Housing prices in the city are up 36% in five years.
00:01:05
Although, the median home price of $170,000 hardly conjures up the real estate frenzy that has swept Silicon Valley. But some, including Pittsburgh Mayor Bill Peduto, warn that the explosion of tech wealth could start to leave more and more people behind. Many of the new jobs here are in companies that deal in highly technical fields, like artificial intelligence and machine learning.
00:01:28
Self-driving car company Argo AI is one of them.>> The commercialization of robotics and AI has just grown like wildfire within Pittsburgh in just the last few years. A lot of this had been research lab work that were concepts and dreams that are now getting to reality, and give people career opportunities.
00:01:48
>> In 2014, the number of jobs here in research and development for the very first time surpassed jobs in iron and steel mills. And by March of this year, there were 41% more jobs in R&D than in the mills.