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Will AI replace your job? Perhaps not in the next decade
Recent rapid improvements in the capabilities of artificial intelligence have raised concerns about these technologies' impact on employment. The ultimate effects of AI on the workforce will depend on the extent to which AI augments (or complements) rather than automates (or substitutes for) workers' tasks. Will this new technology aid workers or replace them?
Advances in AI will boost productivity, living standards over time
Artificial intelligence offers the potential to improve people’s living standards. Such advances can be approximated by changes in GDP per capita over time. Using that common measure, AI could enhance longstanding productivity gains or, alternatively, drastically alter the economy in relatively short order.
Global Institute presentation: Steve Kamin on the dollar’s status
During a presentation and discussion hosted by the Global Institute last month, Steve Kamin discussed how tariffs, volatility and evolving payment technologies are challenging—but not yet dislodging—the dollar’s position as a reserve currency at the center of the global financial system.
Productivity the key to raising living standards
There has been incredible stability in the rate of improvement in U.S. living standards over time. As first documented by Stanford economist Charles Jones, living standards, measured by GDP per capita, have risen at a pretty constant rate of about 2 percent per year in the U.S. for more than 150 years.
Global Perspectives: William Dudley on the Financial Crisis, the New York Fed and Misconceptions about the Fed
Dudley and Dallas Fed President Robert S. Kaplan discussed Dudley’s role during the financial crisis, his leadership of the New York Fed and popular misconceptions about the Fed.
Global Perspectives: Tom Hoenig on the Costs of COVID-19, Modern Monetary Theory and Fed Leadership
Hoenig and Dallas Fed President Rob Kaplan discussed Hoenig’s views on the costs of the current crisis, potential solutions and the elements of effective leadership at the Fed.
Global Perspectives: Donald Kohn on Greenspan and Bernanke, the Global Financial Crisis and the COVID-19 Challenge
Kohn and Dallas Fed President Rob Kaplan discussed Kohn’s career at the Fed, his experience during the Global Financial Crisis and his thoughts on the Fed’s reaction to the current crisis.
Global Perspectives: Epidemiologists Robert Haley and Trish Perl on Fighting COVID-19
Haley, Perl and Dallas Fed President Rob Kaplan discussed the ongoing pandemic, how best to contain it and prospects for a vaccine.
Global Perspectives: Marvin E. Odum on the COVID-19 Fight, Energy Outlook
Odum and Dallas Fed President Robert S. Kaplan participated in a moderated conversation with Krys Boyd of KERA and discussed the ongoing pandemic and how best to contain it.
Record Global GDP Contraction Indicative of COVID-19’s Cross-Country Effect
A number of studies have shown that individual households and businesses voluntarily scaling back social interactions as they learned about the risks associated with COVID-19 have probably played a more important role in damping economic activity than government mandates.