The Economics of AI

On today’s episode, we have Daniel Rock, an Assistant Professor of Operations Information and Decisions at the Wharton School of the University of Pennsylvania. Daniel’s research focuses on the economics of AI and ML, specifically how digital technologies are changing the economy.

Daniel discussed how AI has disrupted the job market in the past years. He also explained that it had created more winners than losers.

Daniel spoke about the empirical study he and his coauthors did to quantify the threat LLMs pose to professionals. He shared how they used the O-NET dataset and the BLS occupational employment survey to measure the impact of LLMs on different professions. Using the radiology profession as an example, he listed tasks that LLMs could assume.

Daniel broadly highlighted professions that are most and least exposed to LLMs proliferation. He also spoke about the risks of LLMs and his thoughts on implementing policies for regulating LLMs.