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MIT Economist Simon Johnson joins the podcast to discuss his book, 'Power and Progress, Our Thousand-Year Struggle Over Technology and Prosperity' and specifically why artificial intelligence is likely overhyped, and that not just from an investment perspective.
Content Highlights
- Artificial intelligence's default trajectory is about machine intelligence, code for replacing people with machines. Historically, this has not brought great things (1:21);
- Indeed technological progress has not always benefited everybody, but just a small group at the top. Today's advancements are no different (5:11);
- Don't expect a boost to business either. Productivity gains should be limited (9:17);
- Some of the dangers of Chat GPT and Google's Bard that is driving most business development around AI (20:12);
- Background on the guest (24:26);
- Thoughts on the current market environment and its potential to spill over into crisis (27:43).
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