Tag: productivity

Scenarios for the Transition to AGI

Scenarios for the Transition to AGI

By Anton Korinek and Donghyun Suh, in a new NBER working paper : We analyze how output and wages behave under different scenarios for technological progress that may culminate in Artificial General Intelligence (AGI), defined as the ability of AI systems to perform all tasks that humans can perform. We assume that human work can be decomposed into atomistic tasks that differ in their complexity. Advances in technology make ever more complex tasks amenable to automation. The effects on wages depend on a race between automation and capital accumulation. If automation proceeds sufficiently slowly, then there is always enough […]

AI doesn’t have to destroy jobs. It can empower the working class.

An advertisement alongside the World Economic Forum in Davos, Switzerland, on Jan. 18. (Markus Schreiber/AP) There is good reason to believe that artificial intelligence is coming for our jobs. That’s, after all, what information technology has been doing for decades. The tech plutocrats apparently agree that human employment will become the stuff of folklore. They probably don’t mind that all wealth in this world will accrue to the lucky few who own the AI patents. They seem willing to share some of it with regular people through some universal basic income scheme .

Artificial general intelligence, the end goal Silicon […]

Chatbot Market revenue to hit USD 84.78 Billion by 2036, says Research Nester

Chatbot Market revenue to hit USD 84.78 Billion by 2036, says Research Nester

Research Nester Leading chatbots market players include Creative Virtual, eGain Corporation, IBM Corporation, Botsify, Aivo Conversational AI, Acuvate, Chatfuel, Google Inc., Inbenta Holdings Inc., and Bitonic Technology Labs Inc.

New York, March 18, 2024 (GLOBE NEWSWIRE) — The global chatbot market size is predicted to expand at ~22.87% CAGR between 2024 and 2036. The market is projected to garner a revenue of USD 84.78 billion by the end of 2036, up from a revenue of ~USD 5.87 billion in the year 2023.Chatbots are growing in popularity due to increased demand for automation. Companies are looking to reduce their operational […]

The Impact of AI: Navigating the Landscape of Jobs and Automation

The Impact of AI: Navigating the Landscape of Jobs and Automation

The Impact of AI: Navigating the Landscape of Jobs and Automation

AlphaPack

· Follow 5 min read·6 hours ago“AI’s going to take our jobs!”It’s a common outcry since the public was introduced to the human-like writing abilities of ChatGPT last November. This has been subject to debate, with OpenAI’s CEO Sam Altman even declaring…“Jobs are definitely going to go away. Full stop.”Certainly AI will shake up many industries and certain jobs will become obsolete. In fact, many already have become casualties to the AI revolution.In the modern era, the integration of Artificial Intelligence (AI) into various industries has […]

Worried An AI Is Going To Take Your Job? Here’s How To Stay Relevant In The Generative AI Era

Worried An AI Is Going To Take Your Job? Here’s How To Stay Relevant In The Generative AI Era

Analysis by the International Monetary Fund found that almost 40 percent of all global employment may be affected by AI, and in advanced economies, the figure could be as high as 60 percent. But don’t be alarmed. That doesn’t mean 40 to 60 percent of jobs will disappear altogether. Instead, it means that AI automation is likely to take away, streamline or enhance some of the tasks associated with those jobs. For the most part, then, we’re talking about the augmentation of human jobs. We’re talking about humans working alongside AI tools, not being replaced by them.

But still, with […]

AI should improve our well-being, not just our productivity

AI should improve our well-being, not just our productivity

Design by Hailey Kim. In 1930, John Maynard Keynes, often called the “father of macroeconomics,” predicted that in the next century, people’s increased ability to meet their basic needs would lower the average work week to 15 hours. He could not have been more wrong. Although Americans today work relatively fewer hours than their parents did, they still work hundreds of hours more per day than adults in other developed countries.

The computer and internet boom of the 1990s was followed by increased consumer spending, not by people opting for more leisure. Efficiency improvements, which could have been used to […]

Is The Rise Of AI The Best Argument For Universal Basic Income?

Is The Rise Of AI The Best Argument For Universal Basic Income?

The rise of artificial intelligence (AI) is a transformative force in today’s world, altering the landscape of economies globally. As automation and smart systems become more pervasive, traditional job roles are evolving or disappearing entirely, leading to concerns about mass unemployment and social instability. It is within this context that the concept of universal basic income (UBI) has gained traction as a potential solution to the economic displacement caused by AI advancements.

Universal basic income proposes a model where all citizens receive a regular, unconditional sum of money from the government regardless of employment status or income level. Proponents argue […]

Blockchain Technology, robotics & automation transforming the energy industry

Blockchain Technology, robotics & automation transforming the energy industry

Blockchain technology has the potential to revolutionise the energy industry by enabling secure and transparent transactions, improving grid management, and enhancing renewable energy distribution.

The energy industry is currently undergoing a transition from a centralised model to a more decentralised one. Blockchain technology can help facilitate this transition by providing a decentralised ledger that records and verifies all energy transactions in real-time, shared across a network of computers. This technology can also automate energy transactions through smart contracts, making it easier to engage in a transactive energy system.

Blockchain can also help facilitate communication between distributed energy resources like solar panels, […]

Bernie Sanders unveils 32-hour workweek bill: How would it work?

( The Hill ) – Sen. Bernie Sanders (I-Vt.) on Wednesday introduced a bill to establish a standard four-day workweek in the United States without any reduction in pay.

The bill, over a four-year period, would lower the threshold required for overtime pay from 40 hours to 32 hours. It would require overtime pay at a rate of 1.5 times a worker’s regular salary for workdays longer than 8 hours, and it would require overtime pay at double a worker’s regular salary for workdays longer than 12 hours.

The Thirty-Two Hour Workweek Act would also protect workers’ pay and benefits to […]

World Consumer Day 2024: Fair and Responsible AI for Consumers -The Case for Automation and Engineering

By Sarath Wijesinghe President’s Counsel (LL.M (UCL London)), former Ambassador to UAE and Israel, former Chairman of the Consumer Affairs Authority, President of the Lanka Ambassador’s Forum – United Kingdom, Solicitor in England and Wales

In the era of rapid technological advancement, Artificial Intelligence (AI) has become an important force driving innovation across various sectors. As we celebrate World Consumer Rights Day 2024, the theme “Fair and Responsible AI for Consumers” urges us to reflect on the ethical and societal implications of AI, particularly in automation, such as automated vehicles, and engineering.
AI’s integration into automation and engineering […]