Computer scientist and Nobel laureate Geoffrey Hinton\u00a0doubled down on his warnings about how artificial intelligence will affect the labor market and the role of companies leading the charge.<\/p>\n
In an interview with Bloomberg TV\u2019s Wall Street Week<\/a> on Friday, he said the obvious way to make money off AI investments, aside from charging fees to use chatbots, is to replace workers with something cheaper.<\/p>\n Hinton, whose work has earned him a Nobel Prize and the moniker \u201cgodfather of AI,\u201d\u00a0added that while some economists point out previous disruptive technologies created as well as destroyed jobs, it\u2019s not clear to him that AI will do the same.<\/p>\n \u201cI think the big companies are betting on it causing massive job replacement by AI, because that\u2019s where the big money is going to be,\u201d he warned.<\/p>\n Just four so-called AI hyperscalers\u2014Microsoft<\/a>, Meta<\/a>, Alphabet<\/a> and Amazon\u2014are expected to boost capital expenditures to $420 billion next fiscal year from $360 billion this year, according to Bloomberg<\/a>. <\/p>\n Meanwhile, OpenAI alone has announced a total of $1 trillion in infrastructure deals in recent weeks with AI-ecosystem companies like Nvidia<\/a>, Broadcom<\/a> and Oracle<\/a>.<\/p>\n When asked if such investments can pay off without destroying jobs, Hinton replied, \u201cI believe that it can\u2019t. I believe that to make money you\u2019re going to have to replace human labor.\u201d<\/p>\n The remarks echo what he said in September<\/a>, when he told the Financial Times<\/a> that AI will \u201ccreate massive unemployment and a huge rise in profits,\u201d attributing it to the capitalist system.<\/p>\n In fact, evidence is mounting that AI is shrinking opportunities, especially at the\u00a0entry level<\/a>, and an analysis of job openings since OpenAI launched ChatGPT shows they plummeted roughly 30%<\/a>.<\/p>\n And this past week, Amazon announced 14,000 layoffs, largely in middle management. While CEO Andy Jassy said the decision was due to \u201cculture\u201d and not AI<\/a>, a memo<\/a>\u00a0he sent in June predicted a smaller corporate workforce \u201cas we get efficiency gains from using AI extensively across the company.\u201d<\/p>\n Despite the potential downside for workers, Hinton also sees benefits from AI. When asked if he would go back in time and stop AI from developing, he paused and said he doesn\u2019t know.<\/p>\n \u201cIt\u2019s not like nuclear weapons, which are only good for bad things,\u201d he explained. \u201cIt\u2019s a difficult decision because it can do tremendous good in healthcare and education. It\u2019ll do tremendous good, and in fact if you think about it increasing productivity in many, many industries, that should be good.\u201d<\/p>\n The problem ultimately is not due to AI itself, but \u201con how we organize society,\u201d Hinton added.<\/p>\n","protected":false},"excerpt":{"rendered":"Computer scientist and Nobel laureate Geoffrey Hinton\u00a0doubled down on his warnings about how artificial intelligence will affect the…\n","protected":false},"author":2,"featured_media":265832,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[182,181,507,2539,74,32042,145],"class_list":{"0":"post-265831","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-artificial-intelligence","8":"tag-ai","9":"tag-artificial-intelligence","10":"tag-artificialintelligence","11":"tag-layoffs","12":"tag-technology","13":"tag-the-future-of-work","14":"tag-unemployment"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/265831","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=265831"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/265831\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/265832"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=265831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=265831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=265831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}