AI is Overhyped, Will Only Worsen Inequality: Simon Johnson

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MIT Economist Simon Johnson joins the podcast to discuss his book, 'Power and Progress, Our Thousand-Year Struggle Over Technology and Prosperity' and specifically why artificial intelligence is likely overhyped, and that not just from an investment perspective.

Content Highlights

• Artificial intelligence's default trajectory is about machine intelligence, code for replacing people with machines. Historically, this has not brought great things (1:21);
• Indeed technological progress has not always benefited everybody, but just a small group at the top. Today's advancements are no different (5:11);
• Don't expect a boost to business either. Productivity gains should be limited (9:17);
• Some of the dangers of Chat GPT and Google's Bard that is driving most business development around AI (20:12);
• Background on the guest (24:26);
• Thoughts on the current market environment and its potential to spill over into crisis (27:43).

For More Information

• Get the book on Amazon: Power and Progress;
• Simon Johnson's Wikipedia page;
• Twitter: @BaselineScene.