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Posts Tagged ‘McAfee’

Competing in the AI economy: An interview with MIT’s Andrew McAfee

Posted by hkarner - 5. April 2018

Date: 04-04-2018
Source: www.mckinsey.com

Competing in the AI economy: An interview with MIT’s Andrew McAfee
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AI has arrived, but are companies ready for it? According to an MIT scientist, executives are underestimating the speed, scope, and scale of the disruption it will bring.

It’s not just some far-off dream anymore. The promises and practical applications of artificial intelligence (AI) are here. In this interview with Andrew McAfee, principal research scientist at the Massachusetts Institute of Technology (MIT) and cofounder of the MIT Initiative on the Digital Economy, he explains how AI, and machine learning in particular, is quickly disrupting companies’ economic models, strategy, culture, and even the very nature of how they are structured and run. But there are opportunities for companies that can answer the call—and meet the needs and wants of consumers. An edited transcript of McAfee’s remarks follows.

Today’s digital disruption: Overstated or underappreciated?
There are billions of people walking around with a supercomputer, by the standards of a generation ago, in their pocket. Those devices are connected to each other and to this thing that we call the Internet. And then, just within the past five or six years at most, all the promises made by the artificial-intelligence community have started to be delivered on. Den Rest des Beitrags lesen »

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Confessions of an AI Optimist: An Interview with MIT’s Andrew McAfee

Posted by hkarner - 4. Februar 2018

 November 16, 2017 By Massimo Russo, BCG Perspectives

An Interview with MIT’s Andrew McAfee (left)

Andrew McAfee and coauthor Erik Brynjolfsson made names for themselves by popularizing and animating technology concepts for the professional class in the 2014 bestseller The Second Machine Age and now in Machine, Platform, Crowd: Harnessing Our Digital Future. This latest book is, according to The Economist, “an astute romp through important digital trends.”

In this interview with BCG, McAfee focuses on “machine,” the rise of artificial intelligence. McAfee is a big booster of most things digital, but he’s also a realist. He cautions, for example, that an AI engine is only as good as the data fed into it. Machines are still a long way from mastering many human tasks, and the biggest impediment to machine learning and other AI tools may be the imagination of business leaders. But he’s not worried about tech giants cornering the AI market, and he’s relatively sanguine about an automated economy in which many forms of work have disappeared.

Excerpts of the conversation between Massimo Russo, a BCG senior partner and managing director, and McAfee follow.

Andy, thank you for taking the time today to talk about a book that you cowrote with Erik Brynjolfsson, Machine, Platform, Crowd. Many discussions about artificial intelligence focus on the input and then the output of data through the training of the algorithms. How are companies going to avoid the garbage-in, garbage-out risk in artificial intelligence? Den Rest des Beitrags lesen »

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Will Humans Go the Way of Horses?

Posted by hkarner - 7. September 2016

   Date: 06-09-2016McAfee Brynjolfsson CC
Source: Foreign Affairs

Labor in the Second Machine Age
By Erik Brynjolfsson and Andrew McAfee

The debate over what technology does to work, jobs, and wages is as old as the industrial era itself. In the second decade of the nineteenth century, a group of English textile workers called the Luddites protested the introduction of spinning frames and power looms, machines of the nascent Industrial Revolution that threatened to leave them without jobs. Since then, each new burst of technological progress has brought with it another wave of concern about a possible mass displacement of labor.

On one side of the debate are those who believe that new technologies are likely to replace workers. Karl Marx, writing during the age of steam, described the automation of the proletariat as a necessary feature of capitalism. In 1930, after electrification and the internal combustion engine had taken off, John Maynard Keynes predicted that such innovations would lead to an increase in material prosperity but also to widespread “technological unemployment.” At the dawn of the computer era, in 1964, a group of scientists and social theorists sent an open letter to U.S. President Lyndon Johnson warning that cybernation “results in a system of almost unlimited productive capacity, which requires progressively less human labor.” Recently, we and others have argued that as digital technologies race ahead, they have the potential to leave many workers behind. Den Rest des Beitrags lesen »

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Human Work in the Robotic Future

Posted by hkarner - 9. Juli 2016

Date: 08-07-2016
Source: FA: By Andrew McAfee and Erik Brynjolfsson McAfee Brynjolfsson CC

Policy for the Age of Automation

The promises of science fiction are quickly becoming workaday realities. Cars and trucks are starting to drive themselves in normal traffic. Machines have begun to understand our speech, figure out what we want, and satisfy our requests. They have learned to write clean prose, generate novel scientific hypotheses (that are supported by later research), compose evocative music, and beat us, quite literally, at our own games: chess, poker, and even go.

This technological surge is just getting started, and there’s much more to come. For one thing, the fundamental building blocks that launched it will continue to improve rapidly. The costs of processing, memory, bandwidth, sensors, and storage continue to fall exponentially. Cloud computing will make all these resources available on demand across the world. Digital data will become only more pervasive, letting us run experiments, test theories, and learn at an ever-greater scale. And the billions of humans around the world are growing increasingly connected; they’re not only tapping into the world’s knowledge (much of which is available for free) but also expanding and remixing it. This means that the global population of innovators, entrepreneurs, and geeks is growing quickly and, with it, the potential for breakthroughs.

Most important, humanity has recently become much better at building machines that can figure things out on their own. By studying lots of examples, identifying relevant patterns, and applying them to new examples, computers have been able to achieve human and superhuman levels of performance in a range of tasks: recognizing street signs, parsing human speech, identifying credit fraud, modeling how materials will behave under different conditions, and more. Den Rest des Beitrags lesen »

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The Real Demographic Challenge

Posted by hkarner - 23. August 2015

Date: 22-08-2015Turner CC
Source: Project Syndicate


Adair Turner, a former chairman of the United Kingdom’s Financial Services Authority and former member of the UK’s Financial Policy Committee, is Chairman of the Institute for New Economic Thinking. His book Between Debt and the Devil will be published by Princeton University Press in fall 2015.

LONDON – The United Nations’ latest population projections suggest that Japan’s population could fall from 127 million today to 83 million by 2100, with 35% of the population then over 65 years old. Europe and other developed economies are aging as well, owing to low fertility rates and increasing longevity.

But those who warn that huge economic problems lie ahead for aging rich countries are focused on the wrong issue. Population aging in advanced economies is the manageable consequence of positive developments. By contrast, rapid population growth in many poorer countries still poses a severe threat to human welfare. Den Rest des Beitrags lesen »

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Technology and Inequality

Posted by hkarner - 22. Oktober 2014

Date: 21-10-2014
Source: Technology Review

Disparity MIT TRThe disparity between the rich and everyone else is larger than ever in the United States and increasing in much of Europe. Why?

WHY IT MATTERS: Income inequality hinders economic opportunity and innovation.

The signs of the gap—really, a chasm—between the poor and the super-rich are hard to miss in Silicon Valley. On a bustling morning in downtown Palo Alto, the center of today’s technology boom, apparently homeless people and their meager belongings occupy almost every available public bench. Twenty minutes away in San Jose, the largest city in the Valley, a camp of homeless people known as the Jungle—reputed to be the largest in the country—has taken root along a creek within walking distance of Adobe’s headquarters and the gleaming, ultramodern city hall. Den Rest des Beitrags lesen »

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The third great wave

Posted by hkarner - 3. Oktober 2014

Date: 02-10-2014
Source: The Economist

The first two industrial revolutions inflicted plenty of pain but ultimately benefited everyone. The digital one may prove far more divisive, argues Ryan Avent

MOST PEOPLE ARE discomfited by radical change, and often for good reason. Both the first Industrial Revolution, starting in the late 18th century, and the second one, around 100 years later, had their victims who lost their jobs to Cartwright’s power loom and later to Edison’s electric lighting, Benz’s horseless carriage and countless other inventions that changed the world. But those inventions also immeasurably improved many people’s lives, sweeping away old economic structures and transforming society. They created new economic opportunity on a mass scale, with plenty of new work to replace the old.

A third great wave of invention and economic disruption, set off by advances in computing and information and communication technology (ICT) in the late 20th century, promises to deliver a similar mixture of social stress and economic transformation. It is driven by a handful of technologies—including machine intelligence, the ubiquitous web and advanced robotics—capable of delivering many remarkable innovations: unmanned vehicles; pilotless drones; machines that can instantly translate hundreds of languages; mobile technology that eliminates the distance between doctor and patient, teacher and student. Whether the digital revolution will bring mass job creation to make up for its mass job destruction remains to be seen. Den Rest des Beitrags lesen »

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Unternehmenskultur: Vorhang auf für die große Wirtschaftsshow

Posted by hkarner - 9. August 2014

08.08.2014 | 15:32 | Von Michael Laczynski (Die Presse)

Leicht verdauliche Kost statt Modellrechnungen: Unternehmen entdecken Volkswirte als Vermarkter und Impresarios – eine logische Konsequenz der rezessionsbedingten Existenzkrise der „harten“ Ökonomie.

Nadella CCGemeinhin gilt Microsoft nicht mehr als die Speerspitze der gesellschaftspolitischen Avantgarde. Die Zeiten, in denen Firmengründer Bill Gates zum Heilsbringer des Computerzeitalters hochstilisiert wurde, liegen Jahrzehnte zurück – dieser Nimbus umgibt heute die Algorithmen der Suchmaschinen und sozialen Netzwerke, während die Software-Schmiede von der US-Westküste ungefähr so aufregend erscheint wie die vorletzte Herbstkollektion von Kleider Bauer. Doch unter dem neuen Chief Executive Officer Satya Nadella (Bild) versucht das Unternehmen, an den Glanz der alten Tage anzuschließen – und zu Microsofts Lichtgestalten in spe zählt seit wenigen Wochen auch Preston McAfee, der erste Chefökonom in der Geschichte des Konzerns. McAfee, der zuvor bei Google seinen Lebensunterhalt verdient hat, soll für Microsoft zwischen der Innenwelt der Software und der Außenwelt der Politik vermitteln und bei der Entwicklung langfristiger Strategien mithelfen, hat das Unternehmen Anfang Juni mitgeteilt.

Microsoft ist ein prominentes, aber beileibe nicht das einzige Beispiel: Immer mehr US-Unternehmen weiten die volkswirtschaftliche Kampfzone aus und deuten die Rolle des Chefökonomen um. Er soll nicht mehr im Hinterzimmer an Modellrechnungen feilen, sondern als Impresario auf der unternehmerischen Showbühne für Zerstreuung zwischen den Präsentationen neuer Produkte sorgen und das Publikum mit leicht verdaulichen Informationshappen füttern. Oder wie die „Washington Post“ vor wenigen Tagen enthusiasmiert berichtet hat: „In einer auf Daten basierenden Welt ist der Chefökonom das neue Marketing-Must-have.“ Den Rest des Beitrags lesen »

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New World Order

Posted by hkarner - 19. Juni 2014

Date: 19-06-2014
Source: Foreign Affairs

Labor, Capital, and Ideas in the Power Law Economy

By Erik Brynjolfsson, Andrew McAfee, and Michael Spence

Recent advances in technology have created an increasingly unified global marketplace for labor and capital. The ability of both to flow to their highest-value uses, regardless of their location, is equalizing their prices across the globe. In recent years, this broad factor-price equalization has benefited nations with abundant low-cost labor and those with access to cheap capital. Some have argued that the current era of rapid technological progress serves labor, and some have argued that it serves capital. What both camps have slighted is the fact that technology is not only integrating existing sources of labor and capital but also creating new ones.

Machines are substituting for more types of human labor than ever before. As they replicate themselves, they are also creating more capital. This means that the real winners of the future will not be the providers of cheap labor or the owners of ordinary capital, both of whom will be increasingly squeezed by automation. Fortune will instead favor a third group: those who can innovate and create new products, services, and business models.

The distribution of income for this creative class typically takes the form of a power law, with a small number of winners capturing most of the rewards and a long tail consisting of the rest of the participants. So in the future, ideas will be the real scarce inputs in the world — scarcer than both labor and capital — and the few who provide good ideas will reap huge rewards. Assuring an acceptable standard of living for the rest and building inclusive economies and societies will become increasingly important challenges in the years to come. Den Rest des Beitrags lesen »

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It’s P.Q. and C.Q. as Much as I.Q.

Posted by hkarner - 30. Januar 2013

Date: 30-01-2013

Source: THOMAS L. FRIEDMAN, NYT Friedman1

President Obama’s first term was absorbed by dealing with the Great Recession. I hope that in his second term he’ll be able to devote more attention to the Great Inflection. 

Dealing with the Great Recession was largely about “Yes We Can” — about government, about what we can and must do “together” to shore up the safety nets and institutions that undergird our society and economy. Obama’s Inaugural Address was a full-throated defense of that “public” side of the unique public-private partnership that makes America great. But, if we’re to sustain the kind of public institutions and safety nets that we’re used to, it will require a lot more growth by the private side (not just more taxes), a lot more entrepreneurship, a lot more start-ups and a lot more individual risk-taking — things the president rarely speaks about. And it will all have to happen in the context of the Great Inflection. 

What do I mean by the Great Inflection? I mean something very big happened in the last decade.

The world went from connected to hyperconnected in a way that is impacting every job, industry and school, but was largely disguised by post-9/11 and the Great Recession. In 2004, I wrote a book, called “The World Is Flat,” about how the world was getting digitally connected so more people could compete, connect and collaborate from anywhere. When I wrote that book, Facebook, Twitter, cloud computing, LinkedIn, 4G wireless, ultra-high-speed bandwidth, big data, Skype, system-on-a-chip (SOC) circuits, iPhones, iPods, iPads and cellphone apps didn’t exist, or were in their infancy.  Den Rest des Beitrags lesen »

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