AI models like Chat GPT are likely to increase productivity. The big question is who reaps the benefits of productivity.
Artificial intelligence will destroy jobs and increase income inequality. That’s what the British magazine thinks Interviewed by The Guardian cognoscenti.
According to the Guardian, AI models like Chat GPT are likely to increase income and wealth inequality. According to the magazine, artificial intelligence is likely to create new technology billionaires and at the same time move many workers to low-wage jobs.
“Artificial intelligence will destroy many current jobs. That has happened with all previous technological breakthroughs,” says an economist from Harvard University Lawrence Katz Guardianille.
“Artificial intelligence is likely to cut the workers’ share of revenue, as many tasks will be automated,” said Katz.
Artificial intelligence there is an extraordinary buzz going on right now. Interest in artificial intelligence rose after a short period of silence in December, when the Open AI Foundation released an artificial intelligence model called Chat GPT.
The artificial intelligence model that produces text is based on GPT-3, published a couple of years ago.
Since the beginning of December, Chat GPT has been swimming quickly for Finnish workplaces as well.
Professor of strategy and innovation at LUT University School of Economics SpongeBob Ritala told HS at the end of January that the breakthrough in creative artificial intelligence will affect jobs and some jobs related to knowledge work may be at risk.
“You have to be careful when making predictions. Routine work, which may be related to programming or website design, can be replaced.”
However, according to Ritala’s assessment, creative artificial intelligence will not significantly take people’s jobs.
“If creative artificial intelligence does the work more efficiently, it doesn’t mean that half of the coworkers will get a shoe,” Ritala said at the end of January.
Consulting company Leading the labor market research of McKinsey & Company’s research unit Anu Madgavkar is on the same lines as Ritala. He estimated for the Guardian that the current technological revolution is hitting white-collar professions in particular.
“It is difficult for artificial intelligence or robots to do, for example, the work of a property manager,” says Madgavkar, who works at the McKinsey Global Institute.
For example, in law firms, artificial intelligence may replace work tasks, as artificial intelligence models such as Chat GPT are able to create contract drafts, for example.
According to Harvard’s Katz, one of the biggest questions about artificial intelligence is who will reap the productivity benefits that AI may bring.
“It is possible that the income level of workers will increase even if their share of the pie remains small,” Katz tells the Guardian.
A technology company Microsoft said on Tuesday that it will add a Chat GPT-like feature to its Bing search engine.
The feature is initially available for a limited trial to search engine users using the Edge browser.
The purpose is that you can talk to Bing in the future and ask it detailed questions along with the search results.
At the end of January, Microsoft announced that it would make a multi-year, multi-billion dollar investment in Open AI.
Google has long been the undisputed number one search engine. Microsoft’s AI investments aim to challenge Google’s position.
On Monday, Google released its own conversational artificial intelligence called Bard. The service initially seems similar to Chat GPT.
Google’s Bard is also a language model-based service that produces new text and, for example, answers questions.