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Bloomberg

A new working paper by MIT researchers finds that artificial intelligence is not currently a cost-effective replacement in jobs where computer vision is employed, reports Saritha Rai for Bloomberg. “Our study examines the usage of computer vision across the economy, examining its applicability to each occupation across nearly every industry and sector,” explains Research Scientist Neil Thompson, director of the FutureTech Research Project at CSAIL. “We show that there will be more automation in retail and healthcare, and less in areas like construction, mining or real estate.”

New Scientist

A new working paper by MIT researchers focuses on whether human work, including vision tasks, are worth replacing with AI computer vision, reports Jeremy Hsu for New Scientist. “There are lots of tasks that you can imagine AI applying to, but actually cost-wise you just wouldn’t want to do it,” says Research Scientist Neil Thompson, director of the FutureTech Research Project at CSAIL.

The Boston Globe

Researchers at MIT have released a new working paper that aims to quantify the severity and speed with which AI systems could replace human workers, reports Hiawatha Bray for The Boston Globe. The paper concluded that “it’s not enough for AI systems to be good at tasks not performed by people,” explains Bray. “The system must be good enough to justify the cost of installing it and redesigning the way a job is done.”

Forbes

A new working paper by MIT researchers predicts “only 23% of wages linked to vision-related tasks could be feasibly cost-effectively replaced by AI,” reports Gil Press for Forbes. The researchers “argue that their findings apply also to generative AI or the automation of language-related tasks,” writes Press.

The Economist

The Economist spotlights new research by Prof. Ivan Werning suggesting a refined economic model to address the post-pandemic economy. Werning’s model adjusts “not just to a shift in demand from services to goods, but to supply-chain disruption, energy shocks and employees in some sectors working from home,” explains The Economist. “As such, inflation moved through the economy in waves, starting in select goods then spreading out.”

Wired

Writing for Wired, Institute Prof. Daron Acemoglu predicts that expectations for generative AI will need to recalibrated during the year ahead. Acemoglu notes that he believes in 2024, “generative AI will have been adopted by many companies, but it will prove to be just ‘so-so automation’ of the type that displaces workers but fails to deliver huge productivity improvements.”

The Wall Street Journal

Prof. Julie Shah speaks with Wall Street Journal reporter Lauren Weber about the implementation of automation in the work force. According to Shah, “when companies adopt automation successfully, they end up adding workers as they become more productive and fill more orders,” writes Weber. “And machines’ lack of flexibility has often resulted in what Shah calls ‘zero-sum automation,’ where gains in productivity are canceled out by the need for people to fix or reprogram robots and compensate for their drawbacks.” 

Bloomberg

Prof. David Autor speaks with Bloomberg about the future of generative AI and the technology’s potential impact on productivity and the labor market. “When we interact with AI, we need to learn how to treat it not as authoritative, but as a guide to support decision making, and that’s really critical,” says Autor.

US News & World Report

Sloan Senior Lecturer Robert (Bob) Pozen speaks with U.S. News & World Report reporter Geoff Williams about ways to create a healthy work-life balance. “Ironically, all of this technology has led, some people in some organizations, to think they have to be 'on' all the time and go from one meeting to another because it’s so easy to schedule it,” says Pozen. “You have to have ground rules.”

CNBC

Brian Deese, an MIT Innovation Fellow, speaks with CNBC host Andrew Ross Sorkin about the state of the U.S. economy. “Perceptions of the economy have gotten increasingly polarized along political lines, and so when you look at that polling around sentiment and the economy one of the things it reflects is that increasing polarization that we are seeing everywhere and reflected in that data,” says Deese. “But number two, we do know historically that as economic data improves it leads to improved sentiment and in general, the incumbents benefit from that.”

Marketplace

Prof. Zeynep Ton speaks with Marketplace host Meghan McCarty Carino about the impact of automation, such as self-service kiosks or chatbot customer service agents, on retail shopping. When thinking about self checkout stations and chatbots, Ton recommends companies evaluate whether the technologies can “improve value for the customer? And would this improve productivity for employees and make their jobs better so that they can serve the customers much better too.”

CNBC

Prof. Daron Acemoglu speaks with CNBC about the potential impact of AI in the workplace. “I think the incentive in the industry… especially with the idea that you have to dominate the market by becoming the largest players, I think those are not helping because those are making us rush down the easiest road, the lowest resistance path, which is often automation,” says Acemoglu. “I don’t think that is going to get us the kind of aspirations that are articulated where we can make blue collar workers, electricians, nurses, teachers much more capable because we have given them tools to be better workers and to make much higher quality services.”

The Economist

The work of Professors David Autor and Daron Acemoglu is highlighted in an article for The Economist that examines “how jobs are being transformed for the better.” A recent paper co-authored by Autor “demonstrated that tight American labour markets are leading to fast wage growth,” while a study from Acemoglu and others found “that use of robots meant higher wages for workers who were not replaced, and that these benefits spread beyond the automating firms.”

Curiosity Stream

Four faculty members from across MIT - Professors Song Han, Simon Johnson, Yoon Kim and Rosalind Picard - speak with Curiosity Stream about the opportunities and risks posed by the rapid advancements in the field of AI. “We do want to think about which human capabilities we treasure,” says Picard. She adds that during the Covid-19 pandemic, “we saw a lot of loss of people's ability to communicate with one another face-to-face when their world moved online. I think we need to be thoughtful and intentional about what we're building with the technology and whether it's diminishing who we are or enhancing it.”