What is the economic value of AGI?

The economic value of Artificial General Intelligence (AGI) is discussed in various contexts, from its potential to replace human labor to the gradual increase in economic value even before achieving AGI.

1. Automation of Human Labor: Carl Shulman mentions that AGI could potentially automate nearly all human labor, leading to an enormous economic impact. He estimates that much of the current $100 trillion economy, which primarily consists of wages ($50-$70 trillion), could be automated by AGI, highlighting its unprecedented value if developed successfully 1.

2. Gradual Increase in Economic Value: Ilya Sutskever predicts that AI, even before reaching AGI, will become increasingly valuable every year, with an exponential growth in economic impact. He expects this trend to continue up until AGI is achieved 2.

3. High-Value Jobs and Efficiency: Shulman also notes that advanced AI systems could replace or amplify the productivity of highly skilled workers, such as top software engineers who earn millions. With AI running continuously, the value generated could be substantial, leading to significant profitability and investment in AI technology 3.

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     Economic Value of AI

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     AGI's Economic Impact

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     AI's Impact on Economy

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     Funding AGI Development

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4. Funding and Market Share: Tech giants like Google and Microsoft are investing significantly in AI development due to its potential to shift market shares and generate enormous revenue. This investment is seen as worthwhile given the transformative impact AGI could have on economies and industries 4.

Overall, the economic value of AGI is envisioned as transformative, with the ability to reshape entire economies, automate a vast array of jobs, and increase productivity drastically.