Justin Yifu Lin: “In a developing country, currently the income level is low, only because their industries are either in traditional agriculture or in small-scale, labor-intense industries. And in those kinds of industries, their productivity level is low. And that’s the reason why their income level is low. If you want to narrow the income gap, you need to move up your industrial ladders to the same type of industries as the industries in the high-income countries. But the reason why the high-income countries develop capital-intensive industry is because the advanced countries, they started to accumulate capital since the Industrial Revolution. So relatively, they have abundant supply of capital. But in a developing country, their productivity level has been low, and the accumulation of capital is small. And they have a scarcity in capital. In this kind of situation, capital-intensive industry is not the developing country’s comparative advantage.”
Elad Gil on the early days of AI: “Rather then view LLMs, Transformers, and diffusion models as part of a continuum with past “AI”, it is worth thinking of this as an entirely new era and discontinuity from the past.”
Mint: “India’s potential to lead the fourth industrial revolution is underpinned by several factors. First, India has a well developed ecosystem of financial data through the Unified Payments Interface (UPI) as well as the Aadhaar platform…Second, India has a substantial young population and an education system capable of producing the required skill sets…Moreover, India is a fertile ground for entrepreneurship and has emerged as one of the fastest-growing startup bases worldwide…However, leading the fourth industrial revolution is not without its challenges. One of the key challenges is low public and private investment in research.”
NYTimes: “While some forecasters have been eager to anoint India as the world’s next China, there are many problems with that simple analogy. As Tim Sahay recently detailed in Foreign Policy, India’s manufacturing sector has in fact shrunk in recent years, with agricultural labor actually growing, and private investment is a smaller share of G.D.P. than it was a decade ago; under Prime Minister Narendra Modi, the country is utterly failing to deliver basic “health before wealth” building blocks necessary for the country to move up the world’s economic ladder more rapidly.”
HBR: “Less appreciated is the risk that companies will cede the customer experience to models and bots designed to extract value in the short term, not to foster long-term customer loyalty. Companies might increasingly pair traditional AI and machine learning models with generative AI to deliver messages and offers to customers in more human-like ways. If we are not careful, profit-seeking bots, algorithms, and predictive models could indeed lead to dystopian experiences. Even in the world of AI, customer love should lead the way. Traditional metrics of customer sentiment, such as Net Promoter Score (NPS), may start to look different, but one premise will endure: Every interaction enhances or diminishes a customer’s perception the company involved. Informing each decision with the goal of enriching customers’ lives will lay down a reliable route to an AI-enabled future that creates more value for customers, employees, and shareholders.”
