Illustration: Jayachandran/Mint Since Robert Solow, economists know that technical change is the most important force to have driven economic growth in advanced economies. One could argue that this should settle the debate about the effects of artificial intelligence (AI)—it should already be crowned the best invention since electricity. Sadly, access to electricity killed millions of jobs and the fear that AI will do the same has crippled the enthusiasm for it.
AI is going to radically improve productivity and welfare in ways such as accelerating vaccine development, improving medical diagnostics, increasing highway safety and reducing traffic congestion. But much of […]
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