Artificial Intelligence

ChatGPT is About to Revolutionize The Economy: We Need to Decide What That Looks Like

MIT Technology Review
April 17, 2023
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Photo by Dkoi on Unsplash

Photo by Dkoi on Unsplash


Generative chatbot AI is sweeping the business community, but some key questions remain: How will it be used? Where should it be implemented? Specifics aside, the technology will be a powerful productivity tool for workers and has the ability to boost the economy.

Productivity growth, which is how countries become richer and more prosperous, has been dismal since around 2005 in the US and in most advanced economies (the UK is a particular basket case). The fact that the economic pie is not growing much has led to stagnant wages for many people.

What productivity growth there has been in that time is largely confined to a few sectors, such as information services, and in the US to a few cities—think San Jose, San Francisco, Seattle, and Boston.

Will ChatGPT make the already troubling income and wealth inequality in the US and many other countries even worse? Or could it help? Could it in fact provide a much-needed boost to productivity?

Read more here.

MIT Technology Review
MIT Technology Review

Founded at the Massachusetts Institute of Technology in 1899, MIT Technology Review is a world-renowned, independent media company whose insight, analysis, reviews, interviews and live events explain the newest technologies and their commercial, social and political impacts. MIT Technology Review derives authority from its relationship to the world's foremost technology institution and from its editors' deep technical knowledge, capacity to see technologies in their broadest context, and unequaled access to leading innovators and researchers. The mission of MIT Technology Review is to make technology a greater force for good by bringing about better-informed, more conscious technology decisions through authoritative, influential, and trustworthy journalism.

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