Artificial Intelligence
Blowing the boom, eurosclerosis, China's decline, why Nvidia is American, beware the dunkelflaute, limits to AI, and the brain drain
Most readers of Aussienomics are probably still busy soaking up the Australian summer rather than looking for interesting tidbits in their inboxes. But for those of you still checking your emails, here are a few of my thoughts on some of the essays, papers and news I’ve read over the break.
The budget update, workers not jobs, the costs of industrial policy, one year of Milei, and the bullish case for hydrogen
The mid-year budget update was depressingly bad; AI won’t leave a third of workers unemployable; a Future Made in Australia will politicise the economy; Argentina’s remarkable year and what it means for Australia; another look at hydrogen; and the per capita recession may already be over.
iPhones and AI: What's next?
Apple has joined the AI race by adding ChatGPT to every iPhone, bringing privacy and security concerns to the forefront; how should governments regulate this rapidly evolving technology without stifling innovation?
Friday Fodder (16/24)
Our states should close their foreign offices; the Zuck discusses his AI strategy; why we can’t build any more; economists debate AI and productivity; and will China invade Taiwan?
AI as a force multiplier
Today’s AI, with its many flaws, is more of a force multiplier than revolutionary tech. Australia should avoid rushing to compete with global leaders in the name of AI sovereignty and instead focus on building guardrails, without being so prescriptive as to kill innovative attempts at AI diffusion.