In an economy with increasing use of robotics, there is a possibility of becoming more capital-intensive. However, humans can continue to be productive, especially in roles like caring for the elderly or young, which remains necessary irrespective of automation. The potential for humans to enhance productivity through skills augmentation is highlighted, such as focusing on well-being aspects in elder care. This suggests that the marginal product of humans may not decline. It is challenging to predict the new equilibrium, but there will likely be tasks for humans as long as limitations on computing resources remain.
In the third and final part of our Future of work series, Kara and Scott chat with Susan Athey, who teaches The Economics of Technology at Stanford Graduate School of Business. They take a deep dive into AI, discussing how it will impact work as we know it, and whether all the doom and gloom is justified.
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