Institute Prof. Daron Acemoglu speaks with CNBC Last Call host Brian Sullivan about what he describes as exaggerated claims about the macroeconomic effects of AI. “I am completely convinced that there are some impressive changes and there are some things that AI can really help us with, but it's not going to suddenly revolutionize everything we do,” Acemoglu says. “And if it's going to do it, it's going to take a while.”
Writing for The Financial Times, Prof. Esther Duflo makes the case that the following the legislative elections in France, politicians must come up with a new vision for the country that “combines production, redistribution and protection of the environment; that promotes respect and dignity of all people; that has the courage to lead the way on the big projects that France, Europe and the world need. Chief among them: fiscal reform, a just green transition, and a way to distribute the gains of growth in a more equitable way to all.”
Prof. Nancy Rose speaks with NPR’s Planet Money hosts Erika Beras and Kenny Malone about the impact of airline deregulation and the aircraft industry. “We need these kind of smaller carriers who want to grow, who want to go in and take share from the majors because they're the ones that are keeping the price pressure on,” says Rose.
Reuters reporter Felix Martin highlights Prof. Daron Acemoglu’s research demonstrating how AI may not help improve productivity in the developed world. Acemoglu has found that broad productivity growth from reasonable estimates of AI replacing humans in the workplace “would increase by only around half a percentage point over 10 years. That is barely a third of the ground lost since 2008,” Martin explains.
Writing for the Boston Business Journal, MITEI Director William Green emphasizes that in order to address the climate crisis, "we need to convene universities, industry, and government to address the challenges of every sector including construction, manufacturing, agriculture, and the electric grid." Green notes: "We at MIT are searching for real climate solutions that the public will adopt, and that merit the huge investments necessary for wide deployment. By working collaboratively to solve these complex issues we will successfully address the greatest threat facing humanity today."
Wall Street Journal reporter Justin Lahart spotlights the work of Prof. David Autor, an economist whose “thinking helped change our understanding of the American labor market.” Harvard Prof. Lawrence Katz says Autor has “probably been the most insightful and influential scholar of the labor market” in decades. “To me, the labor market is the central institution of any society,” says Autor. “The fastest way to improve people’s welfare is to improve the labor market.”
Prof. Yasheng Huang joins a Financial Times podcast to speak with James Kynge about how China’s technological advancement and economic growth could be threatened by the country’s increasing authoritarianism. “My own prediction is that if Chinese domestic policy doesn’t change substantially, the pace of technological and scientific progress that we have witnessed during the reform era, that pace is going to slow down,” Huang says.
Prof. Daron Acemoglu speaks with Greg Rosalsky of NPR’s Planet Money about AI’s potential effect on jobs, specifically the translation business. “I think how good AI has become is often exaggerated,” says Acemoglu. “But there is pretty much nothing that humans do as meaningful occupation that generative AI can now do. So in almost everything it can at best helps humans, and at worst, not even do that.”
Researchers at MIT and elsewhere have “outlined the costs and benefits of artificial intelligence in health care, education and the workforce,” reports Ruth Reader, Daniel Payne, and Carmen Paul for Politico. The researchers say “policymakers should study the real-world implications of the technology and consider using AI to inform policy,” writes Politico.
Prof. Christopher Palmer joins Infotrak host Chris Witting to discuss his recent study that found logistical assistance increases the likelihood that low-income families will move to neighborhoods that offer better economic opportunity. Palmer and colleagues asked “how come more people with vouchers aren’t availing themselves of the opportunity to move to better neighborhoods? That was a prime motivation for our study.”
A new paper by Prof. Daron Acemoglu and Prof. Simon Johnson uses the impact of automation in the textile industry to predict potential similar effects from AI, writes Bloomberg’s Andy Mukherjee. Noting the parallels between the Indian textile industry and disruption currently underway in tech outsourcing, the economists write “the impact of automation on workers today is more complex than an automatic linkage from higher productivity to better wages.”
New York Times columnist Thomas Edsall spotlights recent research by Profs. Daron Acemoglu, David Autor and Simon Johnson, in which they explore whether artificial intelligence could be a beneficial tool for workers. “It is quite possible to leverage generative AI as an informational tool that enables various different types of workers to get better at their jobs and perform more complex tasks,” explains Acemoglu. However, he notes “to turn generative AI pro-worker, we need a major course correction.”
An essay co-authored by Prof. Simon Johnson in Project Syndicate argues that for all the predictions about AI’s effect on the workforce, the most likely outcome is that many people will face pressure to change jobs as the labor market adjusts. Policymakers must focus on human capital, he writes, and “shared prosperity can flow from new technology, but only if its adoption is accompanied by upgraded human skills and more proactive worker redeployment.”
Prof. Daron Acemoglu’s new study projects just mild economic upside in the U.S. stemming from AI advancement, writes Business Insider’s Filip De Mott. According to Acemoglu, AI-led U.S. GDP growth in the next 10 years will rise just 0.93% to 1.16%, due to uncertainty on how much AI can really advance total factor productivity.
Financial Times reporter Robin Wigglesworth spotlights Prof. Daron Acemoglu’s new research that predicts relatively modest productivity growth from AI advances. On generative AI specifically, Acemoglu believes that gains will remain elusive unless industry reorients “in order to focus on reliable information that can increase the marginal productivity of different kinds of workers, rather than prioritizing the development of general human-like conversational tools,” he says.