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Under the 3-factor economic growth model, there's three ways to increase economic growth: 1) Increase productivity (produce more from the same inputs) 2) Incre
by JauntTrooper 2y ago
Under the 3-factor economic growth model, there's three ways to increase economic growth:
1) Increase productivity (produce more from the same inputs)
2) Increase labor (more people working or more hours worked)
3) Increase capital (builds more equipment/infrastructure)
Early AI gains will likely be from greater productivity (1), but as time goes on if AI is able to approximate the output of a worker, that could dramatically increase the labor supply (2).
Imagine what the US economy would look like with 10x or 100x workers.
I don't believe it yet, but that's the sense I'm getting from discussions from senior folks in the field.