In this engaging discussion, Diane Coyle, a prominent Economist and Professor at the University of Cambridge, dives into the transformative potential of AI on productivity in the UK. She highlights the need for local talent and regulatory frameworks to harness AI's benefits fully. Coyle also critiques traditional metrics like GDP, advocating for a shift towards more inclusive measures. The conversation touches on AI’s dual nature, its risks and rewards, and the challenges faced by businesses in adapting to this rapidly evolving landscape.
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insights INSIGHT
AI's Impact on Productivity
AI adoption requires organizational restructuring and data preparation.
It will take time for AI's productivity benefits to fully materialize.
insights INSIGHT
Defining Productivity
Productivity is defined as output relative to input.
Economists assess how resources create valuable outputs.
question_answer ANECDOTE
Time-Saving Technologies
Technologies often improve productivity by saving time, like washing machines.
The just-in-time manufacturing revolution also increased efficiency.
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Is AI going to solve our productivity problem? Diane Coyle is an Economist and Professor at the University of Cambridge where she looks at the economic impact of the digital economy, including artificial intelligence. Her new book is called ‘The Measure of Progress: Counting What Really Matters’ (https://shorturl.at/PuHgF).
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