The article discusses how economic jargon, specifically the concept of Jevons Paradox, recently gained traction following statements from Microsoft's CEO, Satya Nadella. He indicated that as artificial intelligence becomes more efficient and accessible, its usage is expected to surge, akin to the historical observations made by William Stanley Jevons regarding coal consumption. The paradox highlights how improved efficiency can lead to increased demand, contrary to common expectations. This connection was made more prominent during recent volatile market conditions, wherein the implications of AI's evolution are critically discussed.
As A.I. gets more efficient and accessible, we will see its use skyrocket, turning it into a commodity we just can't get enough of.
Jevons noted that as engines improved and made coal more efficient, demand for coal would actually increase, not decrease.
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