Economist Indicates an AI Boom Ahead
💹 Economist Indicates an AI Boom Ahead
AI might actually be good for the economy.
Recent data has indicated that instead of a recessionary period previously predicted; ai may actually be good for the economy.
Two economists: Eric Brynjolfsson and Robert Gordon both just placed small bets on a prediction market website totaling about $400:
📈 What’s the reasoning behind this bet?
Gordon thinks that AI will increase productivity: more so than its predecessors electricity and computers.
Gordon says: “it will not be a revolution, it’s not going to blow out human nature”.
From my perspective, I think the economists at Goldman Sachs have a good point.
The great thing about AI is: it enables to be more productive.
And if this is true on a micro level, then it may be true on a macro level as well.
There are few things in life that don’t scale well.
I don’t think AI is the exception.
I think if this is true, if it actually does make one more productive than it actually will boost the world’s economy.
I don’t think countries like the US will be the only ones to benefit from the AI boom.
Because AI is made for the individual. And the individual is ubiquitous across borderers.
You could live in Argentina and still experience the same upsides of AI as someone in San Francisco.
🌍 The Global Impact of Generative AI
However, the economist from Goldman Sachs states that if generative AI is widely accepted, it could increase the US GDP by 15% in 10 years.
So what’s to be expected from the AI boom. Upsides in the living standard have increased over times of increased productivity.
Historically, if there was some sort of innovative revolution then there was met with increased productivity.
Overall it seems AI is experiencing an increase in productivity by 2.7% last year.
I think this means the best AI tools making AI for work possible may be behind the biggest innovative revolution mankind has done.
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