These days (circa Jan 2023) dread looms in the background, as the markets fluctuate, inflation is rising, investments are slowing down and economic uncertainty dominates the conversation and news.
But I’m here to tell you — have no fear, the singularity is getting near; and the technological pace of innovation has already accelerated into such high speeds that render the current climate into nothing more than a bump in the road.
This is extremely apparent when we look at the speed of adoption and impact of new ML powered solutions, and especially generative AI such as ChatGPT. This is nothing short of a new revolution.
A New Revolution
It’s plain to see, we are already in the early stages of a technological revolution, a revolution that is on par (and maybe greater) with that of smartphones (Circa 2010) or the internet (Circa 1990).
The way we do work, the professions we hold, and in fact the entire way we think about doing business is changing before our eyes. AI is becoming an integral part of every product, and every work process, even the most mundane (such as writing this blog post).
By skipping a beat, and glancing into the future of what’s already happening now- We can begin to see the true impact of the revolution — AI makes exploring ideas and testing them so much easier, it will be hard for our children to imagine (or brainstorm) new ideas without the use of AI models- similarly as it is hard for us today to check for facts without pulling our phones from our pockets and searching the internet.
Unparalleled Economic Growth
“ChatGPT”, or more correctly ML agents are going to kill the recession.
The economic growth generated by the revolution of machine learning agents, is going to have a deep impact on all industries and markets. The ability of these agents to analyze and process large amounts of data quickly and accurately, as well as generate new content, is already showing improving efficiency and productivity in a wide range of fields, and that’s before we even truly got started. Comparing this to the smartphone revolution —at this point in the timeline we’ve been playing with iPods, and the iPhone just got unveiled a week a go (Yes, this is going to be unfolding in much faster cycles).
One of the key ways in which ML agents are expected to drive economic growth is by automating many of the repetitive and time-consuming tasks that are currently performed by humans. This will free up human workers to focus on more complex and value-adding tasks, increasing productivity and output. Or in other others words — jobs are going to change, with prompt engineering skills becoming the new “Excel and Word" baselines of expected proficiencies.
Unparalleled Innovation — built-in Flywheel
The ability of these agents to analyze large amounts of data and identify patterns and trends that would be difficult for humans to detect, has the potential to lead to new insights and innovations in various fields, driving further innovation and economic growth. This built-in fly-wheel effect means that this revolution will have compounding effects on economic growth.
Not Enough Space in This Margin
To take a note from Fermat’s playbook — I’ll add that there’s not enough room in this blog post to cover all the other aspects of how these ML agents are going to accelerate economic growth- but to list a few:
- ML agents can greatly reduce the risk of human error, leading to fewer mistakes and a decrease in costs (This is especially impactful in fields such as finance and healthcare, where the cost of mistakes is often high)
- The increasing use of ML in everyday life, such as in self-driving cars, smart home devices and intelligent personal assistants, is also likely to drive economic growth, by sheer daily routine efficiency.
- As these technologies become more prevalent and affordable, they will create new markets and opportunities for businesses, leading to increased consumption and economic growth.
Innovation Favors the Bold
Don’t say you haven’t been told. As everyone is waiting for the other shoe to drop, the overall economy is cooling and slowing down; this creates problems today, but more importantly it creates opportunities; as those sitting on their wallets, will miss out on the tsunami of economic growth that is about to hit us.
If you’re an entrepreneur start something new now! ; if you’re an investor, don’t slow down your deal flow, speed it up!
To the victor go the spoils.
