Giving Compass’ Take:
· The Brookings Institution explores how technological advancements may be slowed due to the ‘fear factor’ in AI and other social norms.
· What fears does the public have in regard to technology and artificial intelligence? What can be done to ease these fears?
Artificial intelligence (AI) and similar technologies are expected to transform business, consumption, and work. Concerns about the destruction or displacement of jobs are growing. By some estimates, over 40% of current jobs may be eliminated within the next decade or two.
The most attention-grabbing forecasts implicitly assume near-immediate adoption of labor-eliminating technologies by firms seeking rapid efficiency gains and cost savings. But technological adoption will likely be much more uneven. Some sectors will quickly adopt these technologies; many will move more slowly. Some of these variations in adoption rates will reflect differences in transition costs facing firms. Incorporating AI technologies into existing processes is often a complex task. Firms will have to find and train workers with the right skills to complement these technologies. Business leaders also have to trust that the new technologies will be reliable.
Read the full article about advancing technology by Marcus Casey and Sarah Nzau at The Brookings Institution.
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