Originally submitted here: https://news.ycombinator.com/item?id=46212259

Look for the quote "coding is at a world class level"...

TLDR:

Yes.

Ai is currently a bubble. But that is just a short term phenomenon. Ultimately what AI currently is and what the trend-line that indicates what AI will become will change the economy in ways that will dwarf the current bubble.

But this is only if the trend-line keeps going, which is a likely possibility given the last couple of years.

I think people are making the mistake that AI is a bubble and therefore AI is completely bullshit. Remember: The internet was a bubble. It ended up changing world.

>I find the resulting outlook for employment terrifying. I am enormously concerned about what will happen to the people whose jobs AI renders unnecessary, or who can’t find jobs because of it. The optimists argue that “new jobs have always materialized after past technological advances.” I hope that’ll hold true in the case of AI, but hope isn’t much to hang one’s hat on, and I have trouble figuring out where those jobs will come from. Of course, I’m not much of a futurist or a financial optimist, and that’s why it’s a good thing I shifted from equities to bonds in 1978.

It's no wonder that the "AI optimists", unless very tendentious, try to focus more on "not needing to work because you'll get free stuff" rather than "you'll be able to exchange your labor for goods".