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this post was submitted on 16 Aug 2023
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It will take more jobs than we expect and will still be a bubble
Just because there isn't a need for a $13M AI driven app that gives you ideas on what to eat for dinner doesn't mean there isn't hundreds of world changing applications
Search, writing, illustration, translation, driving, image editing, 3d modelling, 3d animation, physics simulations, coming up with heuristics on np-hard problems quickly like organizing fleets etc, ...
OK but those applications are just empowering existing jobs not replacing them.
There are of course many industries that will be shaken by generative AI and will need to adapt but I think that when the dust settles they'll all be in a better place and a lot of crud will be washed away. Things like web search / SEO / online ads for example have become super-parasitic and need major housecleaning.
That's like saying the loom empowered weavers instead of replacing them, if you make a workforce work 2x faster, you may up the production as much as wages and recruitment difficulties impeded you, but you only need so much of one industry at the end of the day so you will get unemployment.
But still, the loom's great