2023-07-23 17:52:04
The artificial intelligence (AI) and how it will affect our lives in every way demands the attention of all kinds of analysts. The economist Santiago Nino Calf has launched a forecast on this subject with few certainties and many doubts and, nevertheless, worrying.
The key to an immediate future will be to see how it will be interaction in between humans i machines and if in this adaptation to the new times there is room for all and technology does not end up putting so much downward pressure on workers’ wages that it will push to “the disappearance of the middle class“, a trend that Niño Becerra warns about following a question in The country to JP Morgan CEO George Gatch on how he thinks the big data or AI will transform the asset management industry. Gatch advocates for “using the machines to strengthen productivity i improve decision-making of managers”.
Niño Becerra, among so many unknowns, states certainties such as “the only certain thing is that in developed economies, such as the United States, the real average salary is at levels of the 1970s; in medium-sized economies such as Spain, the GDP per capita has been below the European average for decades and in underdeveloped economies all those who can escape, because there are no opportunities”.
According to the expert, “expensive technology is already doing valuable tasks and as it gets cheaper it will complete less valuable ones. This is one of the reasons why the middle class is evaporating.”
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“Q. How do you think big data or Artificial Intelligence is going to transform this business?
R. I think it will change everything and in fact we are already seeing it. The debate is not between machines and humans, but rather about how to achieve interaction between the two and use– Santiago Niño (@sninobecerra) March 27, 2023
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