Opinions Differ on the Short-Term Impact of AI on the Economy

TapTechNews May 12th reported that earlier this year, Federal Reserve Chairman Jerome Powell said that generative artificial intelligence can promote productivity growth, but not in the short term, leading some to say that the current AI potential is overstated.

During this week's Bloomberg Technology Summit, Brad Lightcap, Chief Operating Officer of OpenAI, said it is too early to draw conclusions. He joked, It only takes one year to reshape the economic landscape? That's too high a demand for us! He also said that if OpenAI were to stop all future AI development (of course, it won't), the full impact of its existing models would take quite some time to manifest.

In short, it may take longer for people to see the true impact of AI on the economy.

Lightcap said that even technology at the GPT-4 level will take 10-20 years to become widespread in the economic field and is quite confident about it.

Clement Delangue, CEO of the AI development platform Hugging Face who attended the summit, said that in the short term, people may overestimate this technology (referring to AI). Perhaps in one or two years, we will feel disappointed, but we may also underestimate the long-term impact of AI in 10 years. By then, the world will be very different.

Earlier today, TapTechNews reported that foreign media recently claimed that OpenAI has shown some clients a new multimodal AI model capable of speech dialogue and object recognition. Sources revealed that this may be one of the contents that OpenAI plans to officially release on May 13th.

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