Will AI Bring Zero Unemployment?

business
economics

Reason magazine Andrew Mayne thinks In the AI Economy, There Will Be Zero Percent Unemployment

You use ChatGPT to help write a grant proposal because it saves you time and means you don’t have to pay someone else to help write it.

No! why write a grant in the first place if it’s just going to be read by another GPT instance?

 If you compare the U.S. to the slightly more technophobic European Union, you can make the case that Europe’s limits to technologic growth—through legislation and through risk-averse investment strategies

Btw, GDPR costs a 20% increase in the cost of data

The U.S. government spends about $20 billion a year on job programs and has very little data to support how effective that is. When you dig deeper into the data, you find that there’s very little correlation between dollars spent on these programs and wage increases among the people who use them. Because of this, most labor economists argue that job retraining doesn’t work.

Also consider the thoughts of machine-learning pioneer Michael I. Jordan. In an interview with IEEE Spectrum, Stop Calling Everything AI, he explains why today’s artificial-intelligence systems aren’t actually intelligent:

[W]hen people talk about social science, it sounds appealing, but the term social engineering sounds unappealing. The same holds true for genome science versus genome engineering.

“I think that we’ve allowed the term engineering to become diminished in the intellectual sphere,” he says. The term science is used instead of engineering when people wish to refer to visionary research. Phrases such as just engineering don’t help.

“I think that it’s important to recall that for all of the wonderful things science has done for the human species, it really is engineering—civil, electrical, chemical, and other engineering fields—that has most directly and profoundly increased human happiness.”

AI should augment not automate

Instead of “imitative AI”, that simply takes a task currently done by humans and automates it, K.C. Reybold suggests the real power happens we AI is applied to entirely new tasks, like protein folding.1 ***