Tue Jan-30-2024: MIT says humans cheaper than AI, AWS Courting SMBs, rising cyber costs
In this episode of "The Business of Tech," Dave Sobel discusses the findings of a study by MIT on the cost of deploying artificial intelligence (AI) technology. The study reveals that currently, it is more economical for employers to keep human workers, as only 23% of workers' wages for tasks relying on computer vision could be cost-effectively replaced by AI. While AI excels at recognizing patterns and analyzing images, it comes with high installation and maintenance costs and lacks the ability to handle tasks requiring intuition and implicit knowledge. However, industries like banking, marketing, retail, legal services, transportation, and healthcare are still prime candidates for increased automation. The episode also touches on the potential impact of AI on the U.S. economy and job losses in the next decade.