AI hype: Hardware revolution pushes AI into the mainstream

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 The debate is hopelessly outdated, by the time this post is up.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)

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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.

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