AI Needs to Progress to Jumpstart Our Economic Productivity
the problem with technology is not that it's developing too quickly, but rather too slowly to improve productivity.
– The launch of AI platforms like ChatGPT has raised concerns about the future of white-collar jobs and generated non-economic fears such as disinformation and privacy.
– The author emphasizes that historical lessons show technology has created new job categories and fueled economic growth.
– the need for AI to increase worker productivity and contribute to lasting economic progress and rising living standards.
– The benefits of productivity growth have not always reached workers efficiently, leading to income inequality and stagnant wages.
– The author suggests government intervention to address income inequality, citing historical examples like progressive income tax andNew Deal policies.
– The impact of AI is expected to affect various industries and occupations, necessitating better education and training for workers.
– A report from Goldman Sachs suggests that AI can help restore productivity growth to levels seen in the mid-20th century.