[sp527]

(1) We already automated the critical path of a great deal of processes, where that made economic sense. The long tail exists, but it's not replete with as much juicy low-hanging fruit that makes for splashy use cases. Rather, AI will likely produce a tremendous number of marginal improvements over time, which are likely to aggregate and eventually show up in improved top line performance. This could certainly accelerate if agentic AI becomes a true 1:1 replacement for certain types of labor.

(2) Outside of automation, AI is faster search. The information was there and now we can find it more quickly. This helps a great deal, but it's not fundamentally transforming access to information, which was already free and effectively limitless. But there's still value here. I think one key advantage of AI on the search side (for now, prior to meaningful degradations that might ensue) is that it can help push back against exploitative information asymmetry in insurance, consumer goods, health, etc.