Rome Seminar Next Challenges Leonard Waverman DeGroote School of - PowerPoint PPT Presentation

Feb 14, 2023 •11 likes •141 views

Rome Seminar Next Challenges Leonard Waverman DeGroote School of Business McMaster University, Canada October 11, 2018 Issues 1. The Pace and Extent of Change (recent Brookings Analysis; Hal Varian recent mimeo Bots versus Tots) 2. AI,

Rome Seminar Next Challenges Leonard Waverman DeGroote School of Business McMaster University, Canada October 11, 2018
Issues 1. The Pace and Extent of Change (recent Brookings Analysis; Hal Varian recent mimeo Bots versus Tots) 2. AI, Economic Growth and Singularity 2
1. The Pace and Extent of Change Source: Brookings Digitalization and the American Workforce Nov. 2017 Nov 2017 * Uses Dept. of Labor Occupational Information Network (O*NET) job specific info. on education, training, experience, and skill related work requirements 3
1. The Pace and Extent of Change Source: Brookings Digitalization and the American Workforce Nov. 2017 4
1. The Pace and Extent of Change Source: Brookings Digitalization and the American Workforce Nov. 2017 5
1. The Pace and Extent of Change Source: Brookings Digitalization and the American Workforce Nov. 2017 6
? Source: Varian Bots vs. Tots Mimeo 2018
Source: Varian Bots vs. Tots Mimeo 2018
KEY IS PRODUCTIVITY
The Macroeconomic Impact of Artificial Intelligence PWC February 2018
2. Economists Newer Analyses: AI, Economic Growth and Singularity Thomas Malthus Principle of Population 1798 Immiserization “The increase in numbers is necessarily limited by the means of subsistence. Population invariably increases when the means of subsistence increase, unless prevented by powerful and obvious checks.” Ray Kurzwell 2017 SINGULARITY = Unlimited Wealth “We’re going to be able to meet the physical needs of all humans. We’re going to expand our minds and exemplify these artistic qualities that we value.” 1 2
2. Economists Newer Analyses: AI, Economic Growth and Singularity  William Nordhaus 2015 “The major insight of economics is to emphasize the heterogeneity of both inputs and outputs of the economic system”  Phillipe Aghion, Benjamin Jones and Charles Jones 2017 “growth may be constrained not by what we are good at but rather by what is essential yet hard to improve” 1 3

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