Show from 10/06/23

Prof. Siegel joins Jeremy Schwartz with his weekly review of the current market. They cover the most recent jobs report and the strength it’s suggesting. Prof. Siegel thinks that the only real hurt will be felt in the housing market. He doesn’t believe there will be a rate hike in November. They also talk about this weeks big drop in oil. He states that real GDP growth looks stronger going into 2024. (9:22) Daniel and Anton join Jeremy with Daniel starting off by talking about the increase in rates and the strength in the market. They discuss the impact AI technology will have on the increased productivity rates over the next 10 years. Jeremy asks them both how new technology will impact the inequality gap. They discuss roadblocks being experienced in increasing AI technology production. They talk about robotics and advancements in similar areas as AI grows. Jeremy brings up the topic of disruptive technology and how advancements can in fact hurt workers. They finish by talking about the government policies surrounding these tech enterprises.

Guests: Professor Daniel Rock is an Assistant Professor of Operations, Information, and Decisions at the Wharton School of the University of Pennsylvania. His research is on the economic effects of digital technologies, with a particular emphasis on the economics of artificial intelligence. He has recently worked on studies addressing the types of occupations that are most exposed to machine learning, measuring the value of AI skill sets to employer firms, and adjusting productivity measurement to include investments in intangible assets. His research has been published in various academic journals and featured in outlets such as The New York Times, Wall Street Journal, Bloomberg, Harvard Business Review, and Sloan Management Review. Much of his work involves applying cutting-edge data science techniques to analyze datasets from financial market data sources, online resume sites, and job postings.

Anton Korinek is a Professor at the University of Virginia, Department of Economics and Darden School of Business as well as a Nonresident Fellow at the Brookings Institution, a Research Associate at the NBER, a Research Fellow at the CEPR and the Economics of AI Lead at the Centre for the Governance of AI. He received his PhD from Columbia University in 2007 after several years of work experience in the IT and financial sectors. He has also worked at Johns Hopkins and at the University of Maryland and has been a visiting scholar at Harvard University, the World Bank, the IMF, the BIS and numerous central banks.

Learn more at: https://oid.wharton.upenn.edu/profile/rockdi/#

https://www.korinek.com/

Follow Daniel on Twitter: @danielrock

Follow Anton on Twitter: @akorinek