In this video from The Wall Street Journal, senior personal tech columnist Joanna Stern examines the performance of an AI chatbot versus a fast-food worker. Are these two inputs clearly substitutes or are their complementarities that could be exploited by companies? If the goal were only to produce the same amount of food as before with lower costs, we might expect to see a reduction in fast-food workers. However, this technological improvement may end up increasing output and subsequently requiring more tech and more labor.
Thanks to John Raby of Thorton Academy for the clip suggestion!
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