Generative A.I. Can Add $4.4T in Value to Global Economy, Study Says
nytimes.com
nytimes.com
My feeling, without sources at hand to confirm it:
In few Asian countries, we can see it did helped many.
In most developing countries, the picture is less clear.
In developed countries seems to have benefits to the richer top 20%, and have neutral or negative effect on other...
There are a lot of negative externalities associated with globalisation (eg pollution, weaken state...)
And it is absolutely not clear how would have done people in different scenario...
Developed countries seem to have outsourced or automated many formerly middle-class manufacturing and office jobs.
New jobs tend to be high-end tech jobs or low-end service jobs. (And even some of the are being automated.)
An obvious benefit from globalization and automation appears to be providing more affordable consumer goods.
Unfortunately (and for various reasons) housing, higher education, and health care have become drastically more expensive (in the US at least.)
I think some German guy figured out what would happen of people couldn’t afford to live.
If I had a magic box that made widgets out of thin air, I'd still have to sell them to people to realize any value. If I sold $4.4T of them then yeah, I'd make $4.4T, but I'd be taking that money from, you guess it, the Global Economy.
Unless my magic box generated actual money, I don't understand how you add $4.4T value to the global economy. With enough inflation I suppose you can skim from the overall inflation rate. But otherwise I'm not understanding what they're talking about.
Maybe they're saying the total net value of the global economy is static, but the amount that goes to generative AI will be $4.4T. I guess that's what they're saying.