This is hopelessly naive but a very interesting article. Is AI really “ready” for the mainstream? The debate is hopelessly outdated, by the time this post is up. We have only a notional idea of how it is going to impact our daily lives based on what futurists peddle. I think, the impact is going to be slow and very subtle.
AI doesn’t represent the big bang as everyone expects but a gradual ebbing away of the status-quo.
Erik Brynjolfsson, an MIT professor who studies the impact of new technologies in the economy, says this is only a small downpayment on the hoped-for impact from AI. Companies that have hired data scientists and machine-learning experts will not see an immediate payback, he warns: they first need to overcome internal bottlenecks by developing the new work processes required to get the most out of the technology.
This is creating what he calls J-curve in productivity that may already be visible in the wider economy, as the costs associated with the technology come ahead of the hoped-for benefits. The AI race is now on to reap real-world benefits from a much-hyped technology.Hardware revolution pushes AI into the mainstream | Financial Times
The author explains about the falling costs of the hardware and the improvement in processing speeds to crunch massive datasets. I agree. However, tucked in the argument is a link to an economics paper which I was able to procure and I hope you’d find value in it- the J-curve in productivity. In short, investments made today would only show benefits over time. (There’s no annotation)
It is an interesting conundrum for hospitals. Should they “invest” in technologies that are unproven now but may benefit in future? I’ll be following this thread in the future.