Could AI accelerate economic growth?
Most new technologies don’t accelerate the pace of economic growth. But advanced AI might do this by massively increasing the research effort going into developing new technologies.
Audio automatically generating using an AI trained on Tom’s voice. 0:00 -4:59 Audio playback is not supported on your browser. Please upgrade. What will happen to economic growth once AI has made us all obsolete? Economists are often skeptical of big effects. One reason they give is that new technologies typically don’t accelerate economic growth. Instead, they typically cause a one-time gain in economic output, and then growth continues at its normal rate. For example, Bryan Caplan, an econ prof at GMU, recently tweeted: Tech moved 10x faster than I expected in the last year……
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