The Economist Who Believes AI Will Be Great for the Middle Class
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 25 March 2024
⏱️ 59 minutes
🧾️ Download transcript
Summary
AI is an incredibly exciting space, provoking both great wonder and fear. One of the big worries obviously is: What will happen to everyone's job? Will it make more people's livelihoods obsolete, causing even greater inequality than we have now? On this episode, we speak with an economist who argues that this concern is not just misplaced, but exactly wrong. MIT's David Autor, famous for his work on the China shock, contends that the last 40 years of advances in computer technology have been a major driver of inequality, but AI should be seen as an entirely different paradigm. He argues that human work, aided by AI, will remove the premium captured by extremely high-paid, experienced professionals (like doctors or top lawyers) as their capabilities become more diffuse. He also discusses what policy choices the government should be making to improve the odds that AI will prove societally beneficial.
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| 0:00.0 | What is the Gen AI opportunity in Tax? Here are some thoughts from EY and real-time insights. |
| 0:08.0 | Tax has always been an area of heavy data and heavy rules. |
| 0:14.0 | Generative AI opens up an opportunity for tax professionals to use natural language |
| 0:18.6 | that they're comfortable using to query the data to ask different questions and provide new business insights. |
| 0:24.4 | Learn more at E.I.com. |
| 0:27.6 | Hey there, it's Tracy Allaway. |
| 0:31.8 | And Joe Wiesontall. We are the co-host of the All Thoughts Podcast. |
| 0:35.6 | And we want to tell you about our flagship podcast here at Bloomberg. |
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| 0:48.0 | around the world. |
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| 1:06.9 | podcasts. |
| 1:10.9 | Bloomberg Audio Studios. |
| 1:12.1 | Podcasts Radio News. Hello and I'm Tracy Allaway. Tracy, I feel like AI is a great thing for anyone who wants to have an opinion on anything. |
| 1:37.9 | It's like this blank canvas out there in which any idea you have, it just it's just a great moment for pontificators in general |
| 1:46.0 | well not only can you hang a bunch of different opinions on it but it can generate those opinions |
| 1:51.1 | for you yeah you can that's right that you. Yeah, you can, that's right. |
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