Microsoft President Brad Smith stated today at the Web Summit in Vancouver, Canada, that AI represents the next great general-purpose technology driving the emergence of a new economy, likening its transformative impact to that of electricity. He emphasized that this year alone, Microsoft is investing $80 billion to develop the foundational infrastructure necessary to distribute AI technology globally to both businesses and individuals.

Smith highlighted the challenges inherent in this new economic era:

“Are we striving to create machines superior to humans, or are we aiming to develop machines that enhance human capabilities?” he questioned.

Reflecting on the profound transformations initiated by electrification 140 years ago, we often overlook the fact that technology does not independently alter the world. Instead, it necessitates a comprehensive ecosystem of complementary infrastructure and technologies—a tech stack. For electricity, this stack includes:

• Fuels
• Power generation
• Electrical grid
• Transformers, circuit breakers
• Wiring, switches, sockets
• Appliances
• Manufacturers, marketers, users

Similarly, the supporting ecosystem for AI is structured into three tiers:

1. Infrastructure
   • AI data centers
   • Chips
   • Land, electricity, connectivity
2. Platform
   • AI software platforms
   • Data
   • Foundation models
3. Applications
   • AI-integrated software
   • AI-driven devices

Smith pointed out that we frequently neglect the importance of the appliance layer, which serves as the crucial final-mile technology to deliver AI's benefits to the everyday person. Just as appliances seemed magical to those witnessing their introduction over a century ago, he remarked, "140 years later, we now have the chance to create innovations that feel equally magical."

"We're constructing the world's next Industrial Revolution," Smith continued, "and we have the opportunity to ensure it surpasses previous industrial revolutions."

Discussions surrounding the forthcoming revolution naturally provoke concerns among individuals worried about being displaced by AI. Microsoft, along with other corporations such as Amazon, Meta, and Salesforce, is implementing AI agents in sales and service roles, as reported. Other companies like Klarna, UPS, Duolingo, Intuit, and Cisco are following suit. Many positions are under threat, and some have already vanished.

Nevertheless, Smith asserts that Microsoft focuses on developing technology to assist people in accessing higher-quality job opportunities rather than creating systems that outshine human performance.

The crux, he emphasized, lies in equipping individuals with the skills required for the evolving economy and its emerging job sectors.

The challenge, as Smith observed, is that hundreds of millions of individuals worldwide remain excluded from the electrification revolution that began 140 years ago. Without substantial education, training, and potentially significant modifications to our economic structure, achieving comparable outcomes in the AI revolution seems unlikely.

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