YouSaid · the spoken record

Avi Goldfarb

lines on the record: 57
first: 2023-03-21
most recent: 2023-03-21
sittings or episodes: 1
sources: podcast

Every line below is reproduced as it was said and linked to the record it came from. Nothing here is summarised or generated. Directory · Search · Corrections

“An accountant from the 1950s or 60s, or even into the 70s, they spent a lot of their time doing. It was arithmetic. But then Machina arithmetic got better, and we no longer had accountants spend a lot less time adding up columns and numbers. They spent a lot more time thinking about tax policy and strategy, et cetera. But then I ripped that got even sheepard and started to realize that lots of things that we didn't used to solve with arithmetic can be solved with arithmetic as an engineering problem. When arithmetic is cheap enough, mail can be reframed as arithmetic. Music can be reframed as arithmetic, even pictures can be reframed as arithmetic. Codex solves pictures with chemistry, chemical engineering. They were fundamentally a chemical engineering company. But machine arithmetic has gotten cheap enough that by 20 years ago, we started to really think about pictures as an arithmetic problem, no longer a chemical engineer. So as something gets cheap, we do more of it. And when that change is several orders of magnitude, then we”
2023-03-21 · Invest Like the Best · Avi Goldfarb - The Economic Impact of AI - [Invest Like the Best, EP.321] · IDENTIFIED FROM THE TRANSCRIPT · source
“Took an economics class, the very first thing you learn is that the price of something falls, you do it more. So if coffee gets cheap, you're going to buy more coffee. The reality is coffee can only get so cheap. But with technological change, the fall in the price can be extraordinary. Think about your computer. Feels like a computer does all sorts of things. But really under the hood, your computer just does one thing. It doesn't ring it. It doesn't map. Just does it really, really, really well. And so what we saw is the first applications of machine arithmetic were good old-fashioned arithmetic problems. The really first applications were effectively in World War II and shrubby after we had cannons and they shot cannonballs. And it's a difficult arithmetic problem to figure out where those cannibals are going to land. And so we had these teams of humans whose job was called computer who figured out the trajectory of those cannonballs. Then Machine Ave came along, computers, and they could do that arithmetic better than the human computers. The first applications were we were already doing arithmetic for our trajectory and now we have machines doing it. Then I think about accountants.”
2023-03-21 · Invest Like the Best · Avi Goldfarb - The Economic Impact of AI - [Invest Like the Best, EP.321] · IDENTIFIED FROM THE TRANSCRIPT · source
“They automate something that humans do. Reasons to worry about that labor market consequences. Hope is that what they're automating is something that. People who really earn a lot. Think about in medicine. Doing it's automating diagnose Diagnosis is the domain of doctors, and doctors are in more than just about anybody else in medicine. So if you could automate diagnosis. What happens while nurses and pharmacists and all the other millions of medical professionals? Now provide much, much better medical service. Can take advantage of their skills. There's hundreds of thousands of doctors in the US. Special skill in diagnosis is going to go away. Have to retool and figure out how to deal with that. But there's millions of other medical professionals who are now going to be able to do their jobs much better, be much more productive.”
2023-03-21 · Invest Like the Best · Avi Goldfarb - The Economic Impact of AI - [Invest Like the Best, EP.321] · IDENTIFIED FROM THE TRANSCRIPT · source
“Take advantage of what this technology can do to write more easily and whether that's going to be OpenAI that does it or Microsoft that does it or Startup, who knows. Once someone writes that interface and figures it out, then the potential to upskill millions of people is amazing for the economy. To ignore the thousands of people who will be worse ChatGPT is emblematic Something that we see in lots of emerging AI applications.”
2023-03-21 · Invest Like the Best · Avi Goldfarb - The Economic Impact of AI - [Invest Like the Best, EP.321] · IDENTIFIED FROM THE TRANSCRIPT · source
“I'm going to do whatever I'm going to do in your backyard, and then I'll send you a bill. Getting a coherent note out of this guy was really hard. But the story went that he was a great landscape, but he struggled to find business. A mentor or one of his clients, a little bit ambiguous who this person was, built an interface with GPT-3 to help the guy to turn his quick notes. Hello, arrive Wednesday A nice coherent email to a potential customer Seem to work really well. The story went that the person's business thrived as a result. That kind of a narrative, I think, is going to happen a lot. Which is someone's got to reinvent the interface. Something hasn't happened yet, which is somebody has to invent the interface that allows Millions of people”
2023-03-21 · Invest Like the Best · Avi Goldfarb - The Economic Impact of AI - [Invest Like the Best, EP.321] · IDENTIFIED FROM THE TRANSCRIPT · source
“Writing limits their opportunities for work, their opportunities for income. And if they have better writing, then a whole bunch of new business opportunities grow, a whole bunch of new work opportunities grow. And the organizations that figure out how to take advantage of The people who are good at lots of things but not writing are going to be the ones that get the first pass and take advantage of ChatGPT. This story on Twitter, I'm not going to speak to Nebraska of it, but it was a compelling story. There was this landscaper whose English language skills were terrible. He did not know how to write a customer service email Saying, hey, I'm going to be there on Wednesday.”
2023-03-21 · Invest Like the Best · Avi Goldfarb - The Economic Impact of AI - [Invest Like the Best, EP.321] · IDENTIFIED FROM THE TRANSCRIPT · source
“My first reaction was wow. I'd seen large language models before. I'd seen the earlier versions of GPT, including GPT-3 and stuff from OpenAI, and they were doing great things. But ChatGPT showed me the advanced faster than I'd expected. First is Wow. And then, along with my co-authors, we started to think through, well, what does this mean for the future of AI? What does this mean for AI in business? And at the time, when we heard people talk about chat GPT, everyone was focused on, oh no, we're going to have to change the way we write final exams. Or, oh no, there's a handful of people who make a living from writing text. They're going to be toast. They're going to lose their job. And those worries are real. I don't want to belittle them. They're real worries. But for most people, it struck us as this huge opportunity. And what do I mean by that? Well, there's lots of people who have amazing skills that are not good at writing. And so.”
2023-03-21 · Invest Like the Best · Avi Goldfarb - The Economic Impact of AI - [Invest Like the Best, EP.321] · IDENTIFIED FROM THE TRANSCRIPT · source