Initiative on the Digital Economy

Researchers from MIT and Oxford University has found “social media platforms’ suspensions of accounts may not be rooted in political biases, but rather certain political groups’ tendency to share misinformation,” reports Miranda Nazzaro for The Hill. “Thus, even under politically neutral anti-misinformation polices, political asymmetries in enforcement should be expected,” researchers wrote. “Political imbalance in enforcement need not imply bias on the part of social media companies implementing anti-misinformation polices.” 

Writing for Forbes, Peter Evans PhD '05 identifies used electric vehicle (EV) batteries as the next billion-dollar circular marketplace, noting the possibility of significant search, bargaining and enforcement cost savings. Given large volumes of used batteries won’t be available soon, he acknowledges risk, but “creating a successful national circular EV battery marketplace can be not only a billion-dollar opportunity but an important step toward a more sustainable and resource-efficient future,” he argues.

MIT researchers have found that “when nudged to review LLM-generated outputs, humans are more likely to discover and fix errors,” reports Carter Busse for Forbes. The findings suggest that, “when given the chance to evaluate results from AI systems, users can greatly improve the quality of the outputs,” explains Busse. “The more information provided about the origins and accuracy of the results, the better the users are at detecting problems.” 

 A new report by Principal Research Scientist Andrew McAfee explores the “implications of generative AI in economic growth, looking at everything from its possible effects on job skills and wages to how it may transform entire industries to its potential risks and pitfalls,” reports Sheryl Estrada for Fortune.

In a new study examining the potential impact of AI on jobs that employ computer vision, MIT researchers found, “a vast majority of jobs previously identified as vulnerable to AI are not economically beneficial for employers to automate at this time,” reports Catherine Thorbecke for CNN. “In many cases, humans are the more cost-effective way, and a more economically attractive way, to do work right now,” says Research Scientist Neil Thompson, director of the FutureTech Research Project at CSAIL. “What we’re seeing is that while there is a lot of potential for AI to replace tasks, it’s not going to happen immediately.”

A new working paper by MIT researchers finds that artificial intelligence is not currently a cost-effective replacement in jobs where computer vision is employed, reports Saritha Rai for Bloomberg. “Our study examines the usage of computer vision across the economy, examining its applicability to each occupation across nearly every industry and sector,” explains Research Scientist Neil Thompson, director of the FutureTech Research Project at CSAIL. “We show that there will be more automation in retail and healthcare, and less in areas like construction, mining or real estate.”

A new working paper by MIT researchers focuses on whether human work, including vision tasks, are worth replacing with AI computer vision, reports Jeremy Hsu for New Scientist. “There are lots of tasks that you can imagine AI applying to, but actually cost-wise you just wouldn’t want to do it,” says Research Scientist Neil Thompson, director of the FutureTech Research Project at CSAIL.

Researchers at MIT have released a new working paper that aims to quantify the severity and speed with which AI systems could replace human workers, reports Hiawatha Bray for The Boston Globe. The paper concluded that “it’s not enough for AI systems to be good at tasks not performed by people,” explains Bray. “The system must be good enough to justify the cost of installing it and redesigning the way a job is done.”

A new working paper by MIT researchers predicts “only 23% of wages linked to vision-related tasks could be feasibly cost-effectively replaced by AI,” reports Gil Press for Forbes. The researchers “argue that their findings apply also to generative AI or the automation of language-related tasks,” writes Press.

Financial Times reporter Andrew Hill highlights “The Geek Way,” a new book by Principal Research Scientist Andrew McAfee that explores the success behind “geek” culture in companies. Hill notes that McAfee has, “pinpointed some important norms sustaining the world’s most admired, and fastest growing, organizations.”

Principal Research Scientist Andrew McAfee speaks with Bloomberg hosts Carol Massar and Tim Steinbeck about his new book “The Geek Way” and the future of artificial intelligence. “I personally am not worried about the existential, the alignment risks of AI,” says McAfee. “All very powerful tools bring risks and harm with them, and they demand vigilance. We have got to be careful about it. I don’t think AI is any big exception to that trend or requires us to do radically different things, we just have to be vigilant and stop the bad uses.”

Principal Research Scientist Andrew McAfee speaks with CNBC about the contributing factors to a successful start-up company. “Incumbent industries and companies are so fond of really elaborate planning cycles and the geeks just build things, get feedback and do again on a fast cadence,” says McAfee.  

Writing for Fortune, Principal Research Scientist Andrew McAfee discusses his new book “The Geek Way,” and explains how the structure of Montessori schools are influencing modern day business and company culture. “A bunch of geeks are now doing for companies what Maria Montessori did for schools,” writes McAfee. “They’re reimagining them, improving them, and exposing false assumptions. A large and growing cohort of business leaders are now building very different companies — and, not coincidentally, very successful ones.”

Principal Research Scientist Andrew McAfee discussed the impact of artificial intelligence and technology on businesses at the Fortune CFO Collaborative, reports Sheryl Estrada for Fortune. Generative AI is “going to diffuse throughout the economy,” said McAfee. “It’s going to separate winners from losers, and it’s going to turbocharge the winners faster than you and I have been expecting.”  

Writing for Fortune, Sloan research fellow Michael Schrage and his colleagues, explain how AI-enabled key performance indicators (KPIs) can help companies better understand and measure success. “Driving strategic alignment within their organization is an increasingly important priority for senior executives,” they write. “AI-enabled KPIs are powerful tools for achieving this. By getting their data right, using appropriate organizational constructs, and driving a cultural shift towards data-driven decision making, organizations can effectively govern the creation and deployment of AI-enabled KPIs."