"Worried that AI will take your job? Marc Andreessen isn't. The venture capitalist and cofounder of Andreessen Horowitz says the loudest fear around artificial intelligence - that it will wipe out jobs - is aimed at the wrong problem."
""If we didn't have AI, we'd be in a panic right now about what's going to happen to the economy," Andreessen said in an episode of "Lenny's Podcast" released on Thursday. Without a major technological boost, he added, the world would be staring at "a future of depopulation," where shrinking workforces and slow productivity growth would cause economies to stagnate or even contract."
"For about the past two decades, research shows that productivity growth in advanced economies has been unusually weak by historical standards, slowing further after the global financial crisis of 2008 despite rapid advances in digital technology. At the same time, birth rates across the US, Europe, China, and much of the developed world have remained below the replacement level of about 2.1 children per woman - the threshold needed to keep populations stable."
Artificial intelligence can counteract population decline by raising productivity and automating tasks, thus preventing economic shrinkage caused by smaller workforces. Productivity growth in many advanced economies has been unusually weak for about two decades, slowing after the 2008 financial crisis despite digital advances. Birth rates in the US, Europe, China, and much of the developed world remain below the replacement level of roughly 2.1 children per woman, creating depopulation risks. Without technological boosts, economies could stagnate or contract as labor supply falls. AI reshapes tasks rather than eliminating entire jobs and can make remaining workers more valuable.
Read at Business Insider
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