Tuesday, July 16, 2019

AI and the economy

From Johnson's [AI pundit] perspective, what we should be talking about is not whether AI or machine learning will "replace" workers, but instead thinking about how humans will interact with these new capabilities. I'm not just thinking of worker training here, but of the issues related to privacy, access to technology, the structure of market competition, and other issues. Indeed, Johnson argues that one major ingredient missing from the current machine-learning programs is a fine-grained sense of what specific people want--which implies a role for markets. Johnson argues that rather than pretending that we are mimicking human "intelligence," with all the warts and flaws that we know human intelligence has, we should instead be thinking about interactions of how information technology can address the allocation of public and private resources in ways that benefit people.
Humans will apply pricing to AI, making it perfectly attuned to human desires.   The bold part is mine, and the answer is we price that stuff in the pits.  AI doea the resource allocation at our command.

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