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Invisible Sun's avatar

How do we expect AI to improve the world economy? Having it replace certain jobs is an incremental change - technology has long been destroying old jobs and creating new jobs. How will AI replace jobs in a far superior way?

Take software programming. If AI is used to build software, do humans need to understand what AI coded? The big leap would be for humans to turn software coding and testing over to the computers. That could be a huge productivity jump. But at what risk? Who validates the AI? Who is liable for what AI codes?

There is a great looming problem with AI regulation. It is that modern America has embraced a regulatory culture that it is ok to do bad things because (1) you might get away with it and (2) if caught the punishment makes the bad thing worth it. This history informs me that companies will use AI in unethical ways and this will lead to large system / social failures.

I sense the AI proponents are ignoring the cost of these failures in their projections. I wonder if the AI proponents even imagine that AI can produce great failures. Such is the hubris of technocrats. My forecast is we will see no great improvement in social welfare but we will see increasing inequality as ever more gains are privatized and losses socialized.

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Daniel J's avatar

The industrial revolution greatly increased the population, which is itself an important factor of production. Likely the increase in population did more for gdp than the industrial revolution did otherwise.

I don't see AI adding to the population, so I think it's contribution to gdp will be much smaller than for the IR-- even if you think it's game changing technology.

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