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  "documentTitle": "2024 Air Street Capital The State of AI Report 2024",
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  "notes": "The slide summarizes viewpoints from Daron Acemoglu, Goldman Sachs, and Noah Smith, and references a UBI trial funded by Sam Altman.",
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      "text": "2023 saw discussion about the extent to which different industries were exposed to AI. While organizations (e.g. the IMF) continue to publish this work, the debate has begun to move on to its wider economic effects.",
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      "text": "This is fortunate, as universal basic income, the policy lever many AI luminaries such as Sam Altman and Demis Hassabis have advocated as a response to AI's impact, may not be a panacea. A sizeable trial funded by Altman found UBI slightly reduced the number of hours work, but led to little in the way of increased education or entrepreneurship.",
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      "text": "On automation itself, influential economics commentator Noah Smith argued that comparative advantage is likely to hold for the foreseeable future - even though AI will be more efficient than humans at any time, the cost of energy and compute will incentivize people only to apply it to the most important tasks.",
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      "text": "Prominent economist Daron Acemoglu started a row when he argued in a paper for Economic Policy and some Goldman Sachs research that AI would have a minor macroeconomic impact, increasing Total Factor Productivity* by < 0.55% over the next 10 years, while deepening inequality.",
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      "text": "Acemoglu assumes that it will be possible for AI to drive further automation of tasks, while having little effect on the efficiency of currently capital-intensive tasks - unlike previous waves of automation - while creating new 'negative' tasks (e.g. producing disinformation or targeted ads). These assumptions sparked criticism.",
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