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Generative AI Craze: A Technological Revolution

May 25, 2023

Artificial intelligence (AI) has swept the world this year and is expected to usher in a new technological revolution. History does not repeat itself, but it does have its rules. AI will not eliminate jobs, it will create more new jobs. Moreover, AI is a big wave comparable to the previous industrial revolution and will surely create the next growth miracle of the global economy. Indeed, as Mark Twain said, "history does not simply repeat itself, but it always moves on to the same rhyme."

 

Every industrial revolution in history has eliminated some jobs but created many more, boosting world GDP per capita and the global economy. A new technological revolution, affecting jobs and global economic growth, is already in the pipeline.

 

This reform is creating three values: the user value of individual employment, the commercial value of industrial development and the social value that benefits all human beings.

01 User value

Every industrial revolution eliminated some of the old jobs and created a lot of new ones. It is an inevitable trend of The Times that technological revolution will greatly increase productivity, thus eliminating low-productivity jobs and creating more productive ones. The current craze for AI can help people complete repetitive and tedious tasks in an automated and intelligent way, greatly increasing productivity. People can invest more time and energy in areas that require higher-level thinking and decision-making, thereby improving their ability to work. This means "people plus generative AI", which will lead to greater productivity and more new scenarios, which will lead to more demand for services, more market space, which will lead to more demand for jobs and stronger economic growth. The change behind the disappearance of old jobs and the birth of new ones comes from the inflection point of artificial intelligence, where big data, big computing power and big models lead to the emergence of intelligence.

At the same time, AI has changed direction, that is, from discriminative AI to generative AI. This means that people will have more equal access to technological capabilities and it will be easier for them to experience the services that technology brings. These new jobs must come from new industries created by innovation. AI is the main force in these new industries.

02 Commercial value

Any technological change, while creating user value, must create commercial value, otherwise it is difficult to achieve sustainable. In the future, generative AI will bring about a reshaping of production relations and industrial chains, bursting out of huge commercial value. Each round of industrial revolution has created more industrial chains and created more job opportunities. The global economy has achieved sustained growth in this step - up. In the same way, the current craze for generative AI will bring new economic value and lots of jobs.

03 Social Value

Old thinking faded, new ideas burst into the transformation of productive forces superimposed relations of production, will undoubtedly have a huge impact on the whole society. What many people forget is that it is the change in mindset that has the most profound impact. In the past four rounds of industrial revolution, people's vision and imagination were raised to new heights again and again. People began to explore the laws of nature and human society, and the scientific and innovative way of thinking gradually became the mainstream, which laid the thinking foundation for the technological revolution. Similarly, the current craze for generative AI is breaking perceptions again and again. Innovation is the source of human development and progress, but also the source of the development of The Times. If The Times develop faster and better, it will bring more industries and jobs; otherwise, it will bring risks.

04 Conclusion

Management master Drucker once pointed out that an enterprise is an organ of society, and any organization exists for some special purpose, mission and some special social function. Any enterprise can survive because it meets the needs of a certain aspect of society and achieves some special social purpose. Society needs innovative enterprises to build the ladder of progress.

 

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