Artificial Intelligence (AI) can significantly boost productivity; at my job, there are days when AI-driven chatbots enhance my productivity by 400%. The potential is immense, and generative AI (Gen AI) can be utilized in everyday tasks.
Goldman Sachs Research suggests that Gen AI might boost global GDP by 7%, while Bank of America doubles that estimate to 15.7 trillion dollars — comparable to the 2022 US GDP of 25.4 trillion dollars. Beyond economics, Gen AI enables scientists to swiftly analyze vast data sets, leading to breakthroughs like new treatments for rare diseases. This is happening today! The countries most adept with Gen AI will reap the most significant benefits.
The military applications of Gen AI are significant. In Ukraine, FPV kamikaze drones employ Gen AI. The USAF’s 6th-generation aircraft will control multiple drones using Gen AI.
Other countries realize this, and the race for Gen AI is in full swing. China’s push to “forcibly reunify” Taiwan is partly driven by the island’s advanced chip-making capabilities, essential for Gen AI.
Countries like China, with dwindling working-age populations, must leverage Gen AI to maintain economic superpower status. By 2050, China will have fewer than two working-age individuals per senior citizen. This evidence is clear through looking at population pyramids.
America has been a leader in technological research for the past 80 years. We were the first to land on the moon. The Internet was developed by the US Military. Google and Apple are American companies. Today OpenAI and Microsoft are the world leaders in Gen AI.
I see many people push against Gen AI, or call for a halt of research on Gen AI. This is pushing against American economic global dominance. Giving up on Gen AI is letting the world pass us by.
There are concerns we will need to address. Productivity increases will lead to job losses, and this is also happening today. This will require retraining and support while these workers transition to new roles. This is nothing new in our history. From the electrification of factories to personal computers, new technologies have displaced workers. As jobs disappear, people will create new companies to fill new roles. It’s one of the areas where capitalism excels. Glastonbury legislatures are aware of this, having patiently let me talk their ear off on this issue.
References
AI may start to boost US GDP in 2027
AI discovers existing drug works for rare disease
Military Drones in Ukraine – a Beginners’ Guide
Biden announces deal with Taiwan-based semiconductor manufacturer for US investments