AI Weekly: Contrary to current fears, AI will create jobs and grow GDP
“In separate reports, McKinsey and Tata recently outlined the socioeconomic impacts of AI and automation over the next 10 to 12 years, with both expecting AI to contribute to GDP growth — as much as 1.2 percent over the next 10 years — and $13 trillion in net economic benefits could be captured over the next 12 years. These forecasts also introduce several opportunities for entrepreneurs. At a technical level, a paucity of labeled data sets, lack transparency in AI systems, and difficulty in generalizing models across domains will need to be solved. At a social level, employees will need to be retrained, and policymakers will need steady hands through the transition…”
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