Will AI Replace Workers? New Study Suggests Costs May Be Too High
A recent study conducted by the Massachusetts Institute of Technology (MIT) challenges the notion that artificial intelligence (AI) will completely replace human workers. While AI has the potential to transform industries and economies, the study suggests that the costs associated with implementing AI technology may outweigh the benefits.
The study focused on computer vision systems, which analyze images or videos. According to the research, AI is only economically viable for less than a quarter of the tasks that it could technically perform. Building high-quality AI systems can be prohibitively expensive. Neil Thompson, the director of the FutureTech research project at MIT, explained that developing such systems comes with significant costs.
Investing in automation of this kind may only make sense for large companies that heavily rely on it. For instance, generative AI systems like ChatGPT have the potential to create significant shifts in various industries. They can perform a wide range of tasks with minimal customization required for specific situations. Additionally, businesses don’t need to invest heavily in new hardware or software to use chatbots, as they are often available for free or at a low monthly cost. However, customizing these systems to minimize security risks or errors can be expensive.
Despite the current relatively low prices of AI, they are still far from covering the costs. Dylan Patel from SemiAnalysis points out that large models like ChatGPT can cost hundreds of millions of dollars for training and billions of dollars for usage.
Frequently Asked Questions:
- Which company’s stocks are rising on Wall Street?
Nvidia, the chip manufacturer, is experiencing a rise in stocks on Wall Street. - What does Nvidia do?
Nvidia produces cutting-edge graphics processing units (GPUs) that power generative artificial intelligence. - How does the AI technology mining impact the tech sector?
The AI technology mining is revolutionizing the tech sector. - What does the MIT study suggest about the impact of AI on the economy?
The study suggests that the impact of AI on the economy may not be as significant as many anticipate. - Why does the MIT study suggest that human employment may be cheaper than investing in AI?
The study demonstrates that building high-quality AI systems can be very costly, while human employment may be comparatively cheaper. - What did the MIT study focus on?
The MIT study focused on computer vision systems that analyze images or videos. - Which types of companies would benefit the most from investing in automation?
Investing in automation would be most beneficial for large companies that heavily rely on it. - What are the costs associated with using AI like ChatGPT?
The costs of customizing AI, such as ChatGPT, to minimize security risks or errors can be expensive. - What are the costs associated with large AI models like ChatGPT?
Large AI models like ChatGPT can cost hundreds of millions of dollars for training and billions of dollars for usage. - Will AI replace workers?
The study suggests that the high costs of AI will maintain a significant role for human workers in the economy.
Key Term Definitions:
- AI (Artificial Intelligence): A field of computer science that focuses on developing computer systems capable of performing tasks that typically require human intelligence.
- ChatGPT: A type of generative AI system that has the ability to generate text based on provided information.
- Automation: The process of implementing automatic execution of tasks previously performed by humans.
Sources:
- www.nvidia.com – Official website of Nvidia
- www.mit.edu – Official website of the Massachusetts Institute of Technology
The source of the article is from the blog rugbynews.at