Please read Machines of Mind: The case for an AI-powered productivity boom by Brynjolfsson et. al. posted on D2L.
Each group member has a different background and work experience. The questions below will be include all three of your backgrounds in each question. i.e. I do not want Q1 to be answered based on only one of your jobs/backgrounds. I want it answered based on all your jobs/backgrounds to have a collective response for Q1. Same holds for Q2.
Please make sure to bring in specific productivity concepts from class week 3 about productivity and costs–e.g. law of diminishing returns, economics of scale, marginal product of labor etc etc as they apply–do not force fit concepts that do not apply.
1. The authors emphasize that the impact of Generative AI on long run productivity comes from two channels. The first is the increase efficiency of output production. Since workers performing cognitive tasks will be more efficient, production will increase. The second (and according to the authors, the most important one) is the acceleration of innovation and thus future productivity growth. This is because the more productive workers will invent and discover new things (products or processes), which will further boost future productivity. This growth compounds and the economy grows larger (see Graph 2).
Based on each of your current or past jobs/backgrounds, give examples of how each of these channels could lead to higher long run productivity of your unit or division. Be specific about the types of tasks, products, output affected. Be specific about how worker productivity stands to increase. Could this productivity growth also lead to growth of other divisions and your company in general? Briefly explain how and why. Make sure to link your examples to the productivity measures from class, both the short run measures and the long run measures.
2. The authors also stress that a bigger pie does not automatically mean everyone benefits evenly, or at all. This is because a widespread roll-out of generative AI could significantly disrupt labor markets. Ultimately, they conclude, the effect of Generative AI on labor demand depends on whether the systems complement or substitute for labor. Substitution occurs when AI models automate most or all tasks of certain jobs, while complementing occurs if they automate small parts of certain jobs, leaving humans indispensable. Additionally, AI systems can be complementary to human labor if they enable new tasks or increase quality.
Will the tasks you identified in your response to Q1 be substitutes or complements for AI in the long run? Be precise about how the substitution or complementarity will impact demand for labor going forward.
this is the question and i have sent a google doc link as well.
YOU HAVE TO WRITE FOR 2 PEOPLE – SHRUTI PATEL AND DEESHA PATEL
i have attached our resumes as well, so please understand the question and write accordingly. and read the article as well, you can use it in your answer as well. our professor will see if we understood the article or not and
Requirements: 2 pqges
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