Artificial Intelligence
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Artificial Intelligence
Younger workers benefit more from labor-augmenting tech, like AI.
“In other words, workers who were used to doing things a certain way struggled to adapt when complementary technology arrived, while less-experienced workers could harness the power of these new tools.”
Source: Kellogg Insight
Call it the supply paradox of AI: the easier it is to train an AI to do something, the less economically valuable that thing is. After all, the huge supply of the thing is how the AI got so good in the first place.
Rich Sutton's "The Bitter Lesson" reveals a fascinating pattern in AI research:
For decades, AI researchers have tried to encode human knowledge and expertise into their systems. They believed this would lead to better results. They were wrong. Time and time again, the approaches that won out were simple, general methods that leveraged raw
... See more(1) New Working Paper: the fundamental driver of growth in modern economies, Total Factor Productivity (TFP), is linear, not exponential.
This is a paper I did not expect to write...
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