Leaders in Silicon Valley, including Elon Musk and OpenAI CEO Sam Altman, have been optimistic about the deflationary potential of the artificial intelligence boom. Altman recently stated that “intelligence too cheap to meter” is within reach.
Musk, the CEO of Tesla and SpaceX and the world’s richest individual, has predicted that AI and robotics will generate extreme abundance and significantly reduce costs.
Similarly, SoftBank’s Masayoshi Son has anticipated a 40% drop in prices, suggesting that hard, labor-intensive work will become largely obsolete.
However, these visions have yet to materialize. In reality, AI is encountering resistance within corporate structures as it begins to integrate into the economy. This has led to some short-term inflationary effects and little evidence of a lasting productivity surge.
Source (CNBC)
