In terms of spending decisions, it's useful to think of AGI as meaning human-level AGI, which is anyways what many/most people use it to mean. The difference b

In terms of spending decisions, it's useful to think of AGI as meaning human-level AGI, which is anyways what many/most people use it to mean. The difference between AGI+ or sub-AGI level capability is therefore as you suggest - whether you can replace a human worker or not, such as all the excitement over Devin-like "AI programmers". Of course human-level AGI would also give you AI middle managers, AI accountants, AI lawyers, etc, etc. Certainly there are also uses for sub-human level AI for various automation-type jobs, as people are currently discovering and exploring, but there are limits to that. It seems the real/huge economic value is unlocked when AI becomes more than just an automation tool, and can indeed start to replace human labor for cognitive-type jobs - i.e. when human-level AGI is achieved.