“Riding A.I.’s Shifting Waves: From Explosive Growth to Productivity Puzzle ๐ŸŒŠ๐Ÿš€๐Ÿค””

Decoding A.I.’s Impact on Economy and Workforce โš™๏ธ๐ŸŒ

  1. Shifting A.I. Waves: Are We Ready for the Next Surf? ๐ŸŒŠ๐Ÿค–: The narrative of A.I.’s trajectory is flipped as Kedrosky and Norlin present the idea of a shifting A.I. wave. Contrary to the explosion in A.I. adoption we’ve witnessed, they posit we’re witnessing the tail end of the first wave that began in 2017. The second wave, extending for another year or two, hinges on cost reduction and novel models like tree-of-thought. ๐Ÿ“Š๐Ÿคฏ

  2. The Economy’s Unsung Problem: Too Few Hands for Jobs? ๐Ÿคทโ€โ™‚๏ธ๐Ÿญ: Amid A.I.’s evolution, the U.S. economy faces a crisis it hardly expected: a chronic labor shortage. The U.S. workforce’s stagnation is projected to persist, jeopardizing industries’ ability to fill positions. The A.I. revolution arrives as a potential solution, bringing automation to roles rich in “tacit knowledge.” However, this wave might not usher the productivity surge we expect. ๐Ÿ“‰๐Ÿ”

  3. A Twist in the Automation Tale: The So-So Automation ๐Ÿค–โ“: The A.I.-powered automation wave is met with skepticism in its effectiveness. Kedrosky and Norlin highlight the emergence of “so-so automation,” replacing jobs without generating corresponding productivity boosts. While tech moguls and research predict productivity gains, the reality of displacing jobs without ample compensation poses challenges to the rosy automation narrative. ๐Ÿค–๐Ÿšซ๐Ÿ“ˆ

Supplemental Information โ„น๏ธ

Kedrosky and Norlin’s unconventional take on A.I.’s progress challenges established notions, revealing how A.I. might not immediately address productivity concerns. The changing nature of automation and its potential repercussions prompt reevaluation of our expectations and strategies in the A.I. era.

ELI5 ๐Ÿ’

Imagine A.I. like waves at the beach. The first wave is big but is almost over, while the second wave is coming. A.I. can help solve a big problem: not enough people to work. But this new wave of A.I. might not be as helpful as we think. It could replace jobs without making things better. ๐Ÿ„๐Ÿค–

๐Ÿƒ #AIWave #LaborShortage #AutomationReality

Source ๐Ÿ“š: Why current-generation AI is ‘mostly crap,’ but still came along at the โ€˜perfect timeโ€™ to save the flatlining economy, according to a boutique VC firm – FORTUNE


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