The Economics of AI and the Impending Robot Takeover, Part I

The Economics of AI and the Impending Robot Takeover, Part I

Tim Lee, the author of the excellent Understanding AI Substack, recently took to X with a plea : “I really wish there were more economists involved in discussions of the implications of superintelligence.” He continued: The most obvious example is people predicting mass unemployment without thinking through the impact of high productivity on fiscal and monetary policy. There are also people who implicitly assume that the economy will become 90 percent data centers, which doesn’t make much sense. To be fair, there are a lot of assumptions built into the issue. For one, Lee’s scenario assumes that machine intelligence […]

Keeping the conversation clean: How AI helps the Financial Times moderate comments

Keeping the conversation clean: How AI helps the Financial Times moderate comments

Credit: Created with Imagen When talking about artificial intelligence in the newsroom, there is too much focus on the technology and not enough on what it actually does. We want to help journalists, technophiles or technophobes, to explore this topic in an accessible way. So we are launching a second series of " I am a journalist, what can AI do for me ?" that brings stories from your peers who work with editorial robots.

For many publishers, the comments section is a mixed blessing. It is a fantastic space for readers to contribute their thoughts, experiences, and diverse […]

Korea’s No. 1 Economic Media

Korea's No. 1 Economic Media

HAN Sangheon aries@mk.co.kr Updated : 2024-06-10 23:08:58 With the spread of artificial intelligence (AI), the wage growth rate of workers with "social abilities" to work with others such as cooperation, persuasion, and empathy is increasing, according to an analysis. With the prospect that mathematical abilities that previously determined wages could be replaced by automation technology, social abilities with comparative advantages for humans have emerged as core work competencies.

On the 10th, the Bank of Korea analyzed that the proportion of jobs requiring social skills intensively increased by 7 percentage points from 49% to 56% between 2008 and 2022 in a […]

The Future of Employment in an AI-Driven Era

The Future of Employment in an AI-Driven Era

Explore the Role of Artificial Intelligence in the Workforce Evolution

The concept of machines taking over human tasks is not just a narrative from classic science fiction; it’s an evolving reality. Popular culture has long entertained the idea that artificial intelligence (AI) would one day mimic human capabilities. From HAL9000 in “2001: A Space Odyssey” to the menacing Skynet in the “Terminator” series, AI has been envisioned as a force capable of revolutionizing our daily tasks.

In the real world, concepts of AI usurping human roles have been discussed for over a decade. Predictions of AI becoming a pivotal part […]

Levy Yeyati: ‘AI creates tensions that can lead to outsider populism’

Levy Yeyati: ‘AI creates tensions that can lead to outsider populism’

The Argentine economist spoke to the Herald about his recent book on AI’s impact on politics, economy, and society

Eduardo Levy Yeyati Eduardo Levy Yeyati is an Argentine economist, academic, and writer. In his latest book, “Automatizados” (Automated), co-authored with economist Darío Judzik, he plunges into the debate surrounding the impact of AI on the economy, jobs, and politics, as well as people’s daily lives.

Levy Yeyati received the Herald at his home in Buenos Aires. With his cat roaming in the background, he answered questions about the book’s key ideas. This interview has been edited for length and clarity. […]

Artificial Intelligence Shifts Job Market Dynamics Rather than Reduces Employment

An in-depth study conducted by the Research Institute of the Finnish Economy (Etla) has revealed that, rather than diminishing the overall demand for labor, artificial intelligence (AI) has significantly restructured the types of skills and jobs in demand. The organization’s recent findings show how the emergence of AI in text generation has influenced job markets profoundly.

In an undisclosed English-speaking job market platform, researchers categorized jobs into three distinct groups for the study. The work was divvied up into jobs that could be replaced by AI, those augmented by AI, and jobs that are not influenced by AI technology. Interestingly, […]

First Supply to install Exotec robotic system in new 308,000 square-foot distribution center

First Supply to install Exotec robotic system in new 308,000 square-foot distribution center

Exotec’s Skypod System The global warehouse robotics market is expected to reach a $12.99 billion value by 2030. Believed to be faster and less prone to error, warehouse robotic systems are commonly used to automate tasks like picking, sorting, transporting and packing.

PHCP-PVF wholesaler-distributors are adopting warehouse automation at various paces. For example, Wisconsin-based First Supply is partnering with Exotec, a $2 billion global warehouse robotics provider, to install Exotec’s Skypod warehouse robotics system to the company’s new 308,000-square-foot distribution center in Western Wisconsin.

“This decision will significantly contribute to reducing lead times and ensuring better inventory management,” says President […]

Is the Risk of AI Worth the Reward?

Is the Risk of AI Worth the Reward?

When I reflect on the fictional content I have encountered involving AI, I would estimate it to be over 90% dystopian. Ironically, because large language models are trained on content from the internet, they are not just biased towards problematic aspects of society, but even themselves. The concept of self-loathing AI is humorous and brings to mind Marvin from Hitchhiker’s Guide to the Galaxy. However, it is one of many realities that we must consider as AI is integrated into society.

In his book, Life 3.0: Being Human in the Age of AI , MIT professor Max Tegmark explains his […]

How Generative AI is Changing the Global South’s IT Service Sector

How Generative AI is Changing the Global South’s IT Service Sector

The IT services that make up a significant portion of exports and employment in the Global South tend to be highly susceptible to automation by generative AI. Given the potential for countries to reshore and automate previously outsourced IT tasks, the Global South’s IT services appear vulnerable to AI adoption. However, policymakers in these countries can pursue policies to help their workers and industries adapt and benefit from AI.

Read the report.

0 Julian Jacobs is a Google Public Policy Fellow with the Information Technology and Innovation Foundation. Outside of his work for ITIF, Julian is a PhD […]

The fastest growing job occupation in the US isn’t what you think it is

The fastest growing job occupation in the US isn’t what you think it is

a new report argues that AI cannot replace every job occupation, and the latest data from the US labour market proves it The rise of artificial intelligence and its impact on the job market has raised concerns around the world, with some predicting that up to 85 million jobs would be replaced with automation and AI. However, a new report argues that AI cannot replace every job occupation, and the latest data from the US labour market proves it. According to data presented by Stocklytics.com , home health and personal care aides are expected to be the fastest-growing occupation […]