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Well said. Computing power, number of computers and the internet bandwidth increased a huge deal in the last quarter century. And yet we still have low unemploy
by visarga 3y ago
Well said. Computing power, number of computers and the internet bandwidth increased a huge deal in the last quarter century. And yet we still have low unemployment, where is all that new productivity hidden? Demand expansion.
It's a paradox to think increased capability leads to job loss. It usually leads to competition over new applications and markets. The increased productivity can't be turned into pure profits by companies either, because there is competition on price and features. And for the foreseeable future AI needs babysitting.
In the end it seems companies will have to adopt AI to remain competitive, and keep humans to extract more from AI. Or competition will use humans+AI to get ahead.