The Impact of Artificial Intelligence on R&D and Innovation

Beyond innovations in existing sectors, the rapidly improving price/performance of GPTs have led over time to the creation of whole new applications and industries. For example, the steady declines in the price of electricity-generated power and the improvement in the efficiency of electric motors led to the radical transformation of manufacturing in the early part of the 20th century with the advent of the assembly line. It also led to the creation of the consumer appliance industry. Similarly, as the semiconductor industry took off, it led to the historical transition from the industrial economy of the past two centuries to our ongoing digital economy. It's only been in the last few years that major advances in machine learning have taken AI from the lab to early adopters in the marketplace.