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Economists already utilize machine learning, a branch of AI, to analyze data and develop economic projections. Korinek expects it to “revolutionize research,” according to a paper he wrote that was accepted for publication by the Journal of Economic Literature. Impact on employmentSo what could be the impact of genAI’s advancement on employment in economics? Jobs site Indeed conducted a recent study gauging the level of exposure of certain jobs to genAI based on the skills needed to perform them. Economists use a lot of technology to do their jobs, which are tasks that genAI could also perform, especially as it becomes more and more refined.
Persons: CNN — Anton Korinek, , , ” Korinek, GenAI isn’t, Louis, Bing, Google’s Bard, Anthropic’s Claude, GenAI, Claude 2, Korinek, It’s, Tyler Cowen, Alex Tabarrok, “ ChatGPT, ” Cowen, Tabarrok, GPT, genAI, Louis Fed, Svenja, ” Gudell Organizations: CNN, University of Virginia, Korinek, Journal, Economic, George Mason University, Federal Reserve Bank of St, St, Professional Locations: genAI
An AI received a marginal pass in a law and economics exam, economics professor Alex Tabarrok said. Tabarrok, a professor at George Mason University, said the AI's answer was "better than many human responses." The AI, known as Claude, was built by Anthropic, a company part-funded by Sam Bankman-Fried. Tabarrok said the exam was graded blind and that he considered Claude "a competitor" and "improvement" to OpenAI's GPT3, the tech underlying viral sensation ChatGPT. There has been an explosion of interest in AI capabilities since the launch of OpenAI's chatbot ChatGPT in November.
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