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by mo_42
818 days ago
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Economic activity benefits the people who, in the end, consume the products and services. Today, there are long and intransparent supply chains but I think they mostly serve this goal. Economic growth, however does not only require better products and services in the pipeline. It also needs consumers who are ready to adopt these innovative products. A significant part of the world has aging populations (China, Japan, western Europe). There, a large fraction of the population might not adopt new and innovative life styles. I think this is the reason why every innovation takes time until it's faded in completely and the entire society benefits from the innovation. So, neither AI nor other innovations will usher in an era of explosive growth. |
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