On Monday, January 13, a letter signed by over 200 economists, including several Nobel Prize winners, was released to the media. It was entitled "We Must Act Now," which leads naturally to the question, "Act on what?"
The letter was admirably brief, which is probably one reason it got so many signers. The less there is to quibble about, the more people will sign onto something. In addition to the economists, there are a total of more than 2300 other people who signed it—everybody from students to artists and physicists.
So what exactly is it that all these people agree on? I might as well reproduce the entire thing here, as it's short enough. Here is all the text following the title, from the official website:
A Statement on AI’s Transformation of the Economy
- AI may become radically more powerful over the next 10 years.
- This could drive an unprecedented transformation of our economy, larger than the Industrial Revolution, but unfolding over a vastly shorter time frame. It could bring risks, including large-scale job displacement, as well as opportunities such as major gains in living standards.
- Economists, policymakers and technology leaders must act now to understand the economics of transformative AI and to build the incentives, guardrails, and institutions needed to steer AI in a direction that complements humans and benefits society.
The actions called for are (1) understanding, and (2) building "incentives, guardrails, and institutions" to make sure that AI "complements" humans (rather than simply replacing them) and "benefits society," a mom-and-apple-pie phrase that makes an appearance in many organizational ethics codes.
An article by Casey Newton on a tech-watch newsletter called The Platformer quoted one of the organizers of the letter, Erik Brynjolffson of Stanford, as saying that one of his main motivations was to call for more and better research into the effects of AI.
Take employment, for example. Has AI led to increased employment, decreased employment, spotty layoffs, or what? Even the experts can't answer these questions very well. The one statistic that seems to be surviving scrutiny over the last few months concerns the hiring of entry-level workers as compared to hiring more experienced workers.
Entry-level hiring rates have declined (2.7%, according to Newton) as hiring rates for more senior workers have increased, by and large. Rates for mid-career (35-40) workers increased 1.6%.
How much of these changes is due to AI is impossible to say, although there is anecdotal evidence that a lot of the gruntwork formerly done by young hires is now being handed off to AI by more senior employees, perhaps the very ones who dealt with the newbies before AI came along.
The comparison to the Industrial Revolution is interesting, because that era led to a huge number of social as well as economic changes that are still being felt today. It's not clear that use of AI in the workplace will be as socially disruptive, unless you count the ways AI is used in social media, in which case AI has already disrupted society, especially in the political realm and among young people.
Returning to the question I asked in the headline about whether 200 economists could be wrong about AI, the answer is, "Absolutely!" Modern economics as typically practiced has a lousy track record in predicting even basic things like unemployment rates and recessions. But gazing at crystal balls is not everything economists do. They also gather useful data and point out significant trends to the rest of us, trends we can choose to do something about.
So to the extent that economists see a crying need for more AI-related statistics, they are probably right, as they're the ones who use them the most. The average Joe on the street is not prepared to meet this need, but AI itself can probably be used to gather data on how it's affecting the economy.
As to what effects AI may have on the workplace of the future, I read a useful analogy somewhere recently that made sense to me. Steve Jobs liked to say that personal computers were bicycles for the mind. After quoting Jobs, a writer I read recently said that if PCs are bicycles, AI is an airplane for the mind. And after using AI frequently enough to get a feel for what it can do in my own work, I tend to agree with that analogy.
Bicycles and airplanes are both means of transportation, and it is important to remind ourselves that AI in its many manifestations is, in the end, more of the same kind of thing we got when computers came along. It is not a new life form, it does not have ethical standing on its own, and it will not develop consciousness or a conscience as we understand these terms. If it fulfills the hopes of many of its designers, it will vastly increase the productivity of what George Gill calls "symbolic manipulators"—programmers first, but also writers of all kinds, academics, lawyers, and even politicians. But making productivity of politicians better may turn out to be AI's final frontier.
So far, it doesn't look like any particular job category is slated for massive layoffs due simply to the introduction of AI. That may change in the future if AI is successfully coupled to affordable, effective, and above all safe robots. Robot garbage collectors, hazardous-equipment operators, and military personnel becoming a reality could have widespread negative effects, not only on the job market but on the nature of the enterprises touched by their work.
But until that happens, the best thing to do about AI seems to be what the doctors call "watchful waiting." If we pick up any signs that AI is unfairly penalizing a particular line of work, or is causing toxic effects such as the teenage social-media-caused epidemic of depression and anxiety in new areas, it's time to do something about it. Applying draconian precautionary actions such as a wholesale shutdown of AI research seems not to be in the cards, as it would be nearly impossible to apply anyway.
Let's hope those who are qualified to respond to the call for more AI-related economic data step up and do so, and hope that the rest of us can benefit from what they find out, and take action if
necessary. But so far, panic is not advised.
Sources: The statement "We Must Act Now" and its signatures can be viewed directly at tps://www.wemustactnow.ai/. Casey Newton's article "The loudest warning about AI and jobs yet" can be viewed at https://www.platformer.news/ai-jobs-warning-brynjolfsson-acemoglu/.