Press Space to continue
Press Space to continue
The Economist's @econcallum argues that anyone expecting AI to transform the economy in just 4 years is ignoring a fundamental lesson from history: "The history of new technologies is that they take a very long time to diffuse across the economy. This was true for electricity, it was true for the internet, it was true for tractors in American agriculture, which took 50 years really to be used in a serious way in farms." "If you have even a fairly rudimentary grasp of history, you would be…
MTS@MTSlive2h ago
FULL INTERVIEW: The Economist's Callum Williams says only about 25% of American businesses use AI four years in, when most people in 2023 would have bet on nearly all of them. Ask CFOs what AI has done for their bottom line, and he says it "basically balances to zero." @econcallum is the senior economics writer at @TheEconomist. He joined @theojaffee and @schisofrenia to lay out why AI hasn't changed the economy yet and the signal he's watching for: 00:50 why AI hasn't changed the economy yet 01:38 why AI spread slower than the internet in business 03:05 why a laptop and ChatGPT isn't enough 04:20 the CFO surveys where AI's impact balances to zero 04:49 why cost will decide how fast AI spreads 06:11 the 25% stat, and the labor market signal he's watching 08:30 whether AI layoffs are real or just an excuse 09:43 robot McDonald's vs a fast food labor shortage 10:28 the COVID robot predictions nobody apologized for 11:55 the economic doom predictions that did come true
View